Analysts Set NIKE, Inc. (NYSE:NKE) Price Target at $116.52

NIKE, Inc. (NYSE:NKE) has received a consensus recommendation of “Moderate Buy” from the thirty-one research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $116.26.

NKE has been the topic of several recent research reports. Wedbush restated an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a research report on Wednesday, March 27th. JPMorgan Chase & Co. lowered their price objective on NIKE from $139.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, December 22nd. Evercore ISI decreased their target price on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Wells Fargo & Company decreased their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Finally, Sanford C. Bernstein decreased their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently made changes to their positions in NKE. Moneta Group Investment Advisors LLC grew its position in shares of NIKE by 139,649.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock worth $1,967,325,000 after buying an additional 16,801,276 shares in the last quarter. Norges Bank acquired a new position in shares of NIKE during the fourth quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD grew its position in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares in the last quarter. Capital International Investors grew its position in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Finally, Newport Trust Company LLC acquired a new position in shares of NIKE during the third quarter worth about $679,775,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE:NKE opened at $93.11 on Tuesday. NIKE has a twelve month low of $88.66 and a twelve month high of $128.68. The company’s 50 day moving average is $98.83 and its 200 day moving average is $103.49. 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 company has a market cap of $140.54 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. On average, sell-side analysts forecast that NIKE will post 3.7 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is presently 43.53%.

About NIKE

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.