Deutsche Bank Analysts Give Nike (NKE) a $76.00 Price Target
Several other equities research analysts have also weighed in on the company. Goldman Sachs Group set a $59.00 target price on Nike and gave the stock a neutral rating in a report on Thursday. Argus raised Nike from a hold rating to a buy rating and lifted their price target for the stock from $50.35 to $64.46 in a research report on Thursday. Wedbush reaffirmed a hold rating and issued a $57.00 price target (up from $52.00) on shares of Nike in a research report on Thursday. DA Davidson set a $68.00 price target on Nike and gave the stock a buy rating in a research report on Thursday. Finally, Vetr downgraded Nike from a hold rating to a sell rating and set a $59.88 price target on the stock. in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Nike presently has an average rating of Hold and a consensus target price of $60.67.
Shares of Nike (NYSE:NKE) opened at $64.79 on Thursday. Nike has a 1-year low of $50.35 and a 1-year high of $65.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. The stock has a market capitalization of $105,689.83, a PE ratio of 27.57, a PEG ratio of 3.03 and a beta of 0.64.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be paid a $0.20 dividend. This is a positive change from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.23%. Nike’s dividend payout ratio is presently 34.04%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the sale, the chairman now directly owns 1,637,736 shares in the company, valued at $90,124,612.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at $1,441,376. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Willingdon Wealth Management bought a new position in shares of Nike during the third quarter worth about $114,000. Asset Planning Services Ltd. boosted its position in Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 7 shares during the last quarter. Atlantic Trust LLC acquired a new position in Nike during the second quarter valued at approximately $136,000. Howe & Rusling Inc. boosted its position in Nike by 751.3% during the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after purchasing an additional 2,329 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its position in Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after purchasing an additional 1,209 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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