Telsey Advisory Group Boosts Nike (NKE) Price Target to $77.00
Nike (NYSE:NKE) had its price target upped by Telsey Advisory Group from $71.00 to $77.00 in a research report released on Monday, MarketBeat Ratings reports. They currently have an outperform rating on the footwear maker’s stock.
A number of other analysts have also commented on the stock. Argus upgraded shares of Nike from a hold rating to a buy rating and boosted their price target for the company from $50.35 to $64.46 in a research note on Thursday, December 14th. Buckingham Research set a $71.00 price target on shares of Nike and gave the company a buy rating in a research note on Monday, December 25th. DA Davidson boosted their price target on shares of Nike from $68.00 to $78.00 and gave the company a buy rating in a research note on Tuesday, December 26th. Zacks Investment Research lowered shares of Nike from a buy rating to a hold rating in a research note on Wednesday, December 20th. Finally, OTR Global upgraded shares of Nike to a positive rating in a research note on Monday, December 11th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have assigned a buy rating to the company. Nike has an average rating of Buy and a consensus target price of $66.42.
Shares of Nike stock opened at $66.35 on Monday. The company has a market cap of $106,906.16, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 2.97 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. Nike has a one year low of $50.35 and a one year high of $70.25.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, March 2nd. Nike’s dividend payout ratio is currently 34.63%.
In related news, EVP John F. Slusher sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00. Following the sale, the executive vice president now directly owns 268,169 shares in the company, valued at approximately $16,918,782.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at $114,641,520. The disclosure for this sale can be found here. Insiders sold a total of 912,802 shares of company stock worth $58,993,107 over the last 90 days. 3.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in NKE. Field & Main Bank bought a new stake in shares of Nike during the fourth quarter valued at about $100,000. Wagner Wealth Management LLC bought a new stake in shares of Nike during the fourth quarter valued at about $103,000. G&S Capital LLC bought a new stake in shares of Nike during the fourth quarter valued at about $112,000. Willingdon Wealth Management bought a new stake in shares of Nike during the third quarter valued at about $114,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Nike during the fourth quarter valued at about $116,000. Institutional investors and hedge funds own 65.65% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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