NIKE (NYSE:NKE) Given a $151.00 Price Target at UBS Group

Posted by MarketBeat News on Mar 14th, 2023

UBS Group set a $151.00 price objective on NIKE (NYSE:NKE – Get Rating) in a report released on Monday, Borsen Zeitung reports.

A number of other brokerages have also recently commented on NKE. Jefferies Financial Group set a $140.00 price target on shares of NIKE in a research report on Monday, January 2nd. Raymond James upped their price target on shares of NIKE from $99.00 to $130.00 and gave the company an outperform rating in a research report on Wednesday, December 21st. Robert W. Baird upped their price target on shares of NIKE from $120.00 to $130.00 in a research report on Wednesday, December 21st. Oppenheimer increased their price objective on shares of NIKE from $135.00 to $150.00 and gave the stock an outperform rating in a research report on Tuesday, February 21st. Finally, Sanford C. Bernstein set a $122.00 price objective on shares of NIKE in a research report on Monday, January 2nd. Twelve equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $130.50.

NIKE Stock Performance

NYSE NKE opened at $116.86 on Monday. The company has a market capitalization of $181.20 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 3.92 and a beta of 1.10. NIKE has a twelve month low of $82.22 and a twelve month high of $139.86. The stock has a fifty day simple moving average of $123.81 and a 200 day simple moving average of $109.61. The company has a quick ratio of 1.78, a current ratio of 2.69 and a debt-to-equity ratio of 0.58.

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NIKE (NYSE:NKE – Get Rating) last issued its quarterly earnings results on Tuesday, December 20th. The footwear maker reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.20. The business had revenue of $13.32 billion for the quarter, compared to analysts’ expectations of $12.61 billion. NIKE had a net margin of 11.47% and a return on equity of 36.83%. Sell-side analysts expect that NIKE will post 3.13 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 6th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 1.16%. NIKE’s payout ratio is currently 38.31%.

Insider Transactions at NIKE

In other news, EVP Monique S. Matheson sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $124.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now owns 60,213 shares in the company, valued at approximately $7,466,412. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other NIKE news, Director Peter B. Henry acquired 557 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was bought at an average cost of $125.45 per share, with a total value of $69,875.65. Following the acquisition, the director now owns 4,062 shares in the company, valued at $509,577.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the completion of the transaction, the executive vice president now directly owns 60,213 shares of the company’s stock, valued at $7,466,412. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Absher Wealth Management LLC boosted its holdings in NIKE by 6.2% in the 3rd quarter. Absher Wealth Management LLC now owns 157,232 shares of the footwear maker’s stock worth $13,069,000 after buying an additional 9,148 shares during the period. Essex Financial Services Inc. boosted its holdings in NIKE by 3.9% in the 3rd quarter. Essex Financial Services Inc. now owns 5,890 shares of the footwear maker’s stock valued at $490,000 after purchasing an additional 219 shares during the period. Sawyer & Company Inc bought a new position in NIKE in the 3rd quarter valued at $53,000. Stonegate Investment Group LLC boosted its holdings in NIKE by 15.1% in the 3rd quarter. Stonegate Investment Group LLC now owns 8,402 shares of the footwear maker’s stock valued at $698,000 after purchasing an additional 1,105 shares during the period. Finally, Wedmont Private Capital boosted its holdings in NIKE by 18.1% in the 3rd quarter. Wedmont Private Capital now owns 6,264 shares of the footwear maker’s stock valued at $521,000 after purchasing an additional 962 shares during the period. 63.20% of the stock is owned by institutional investors.

About NIKE

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NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.