TD Cowen Raises NIKE (NYSE:NKE) Price Target to $78.00

by · The Cerbat Gem

NIKE (NYSE:NKE – Free Report) had its price target hoisted by TD Cowen from $71.00 to $78.00 in a report released on Wednesday, Benzinga reports. The firm currently has a hold rating on the footwear maker’s stock.

Other research analysts have also recently issued reports about the company. Daiwa America cut NIKE from a moderate buy rating to a hold rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $80.00 to $77.00 and set a neutral rating on the stock in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of NIKE from $86.00 to $95.00 and gave the company an overweight rating in a research report on Friday, September 20th. Sanford C. Bernstein decreased their price objective on shares of NIKE from $112.00 to $109.00 and set an outperform rating on the stock in a report on Thursday, September 19th. Finally, Morgan Stanley increased their price objective on shares of NIKE from $79.00 to $82.00 and gave the stock an equal weight rating in a research report on Wednesday, September 25th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $96.04.

Check Out Our Latest Analysis on NKE

NIKE Price Performance

NYSE:NKE opened at $82.26 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a 50 day moving average price of $80.90 and a 200 day moving average price of $86.24. The stock has a market cap of $124.15 billion, a PE ratio of 22.05, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. Equities research analysts expect that NIKE will post 3.04 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently modified their holdings of NKE. Annapolis Financial Services LLC grew its holdings in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Core Wealth Advisors Inc. increased its position in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in NIKE in the 4th quarter valued at about $33,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

(Get Free Report)

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.

Featured Articles