NIKE (NYSE:NKE) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of NIKE (NYSE:NKE) in a research note released on Tuesday morning, Benzinga reports. Wedbush currently has a $115.00 price objective on the footwear maker’s stock.

Several other brokerages have also commented on NKE. Barclays lowered their price objective on shares of NIKE from $142.00 to $114.00 and set an overweight rating on the stock in a research report on Monday, March 25th. Telsey Advisory Group lowered their price target on shares of NIKE from $140.00 to $120.00 and set an outperform rating on the stock in a research report on Monday, March 18th. The Goldman Sachs Group lowered their price target on shares of NIKE from $135.00 to $120.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Morgan Stanley lowered their price target on shares of NIKE from $124.00 to $116.00 and set an overweight rating on the stock in a research report on Wednesday, March 27th. Finally, Bank of America raised shares of NIKE from a neutral rating to a buy rating and boosted their price target for the company from $110.00 to $113.00 in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $116.26.

NIKE Trading Down 1.9 %

NYSE:NKE opened at $92.26 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $139.25 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.82 and a beta of 1.09. The firm has a fifty day simple moving average of $96.55 and a two-hundred day simple moving average of $103.28. NIKE has a 12 month low of $88.66 and a 12 month high of $128.68.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Analysts expect that NIKE will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.60%. NIKE’s payout ratio is 43.53%.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC lifted its holdings in shares of NIKE by 3.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 176,901 shares of the footwear maker’s stock worth $16,625,000 after acquiring an additional 6,477 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in NIKE during the 1st quarter valued at $4,777,000. Private Advisor Group LLC raised its holdings in NIKE by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 62,372 shares of the footwear maker’s stock valued at $5,862,000 after buying an additional 2,196 shares during the last quarter. Lodestone Wealth Management LLC raised its holdings in NIKE by 5.5% during the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after buying an additional 118 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in NIKE by 14.5% during the 1st quarter. J.W. Cole Advisors Inc. now owns 10,628 shares of the footwear maker’s stock valued at $992,000 after buying an additional 1,342 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.