JPMorgan Chase & Co. Raises Nike (NYSE:NKE) Price Target to $100.00

Nike (NYSE:NKE) had its price objective lifted by JPMorgan Chase & Co. from $90.00 to $100.00 in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the footwear maker’s stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Co reaffirmed a hold rating and set a $160.00 target price on shares of Willis Towers Watson in a report on Friday, March 22nd. Credit Suisse Group set a $180.00 target price on Accenture and gave the company a hold rating in a report on Friday, June 28th. Goldman Sachs Group lowered Anaplan from a buy rating to a neutral rating and set a $53.20 target price for the company. in a report on Monday, July 1st. Needham & Company LLC reaffirmed a strong-buy rating on shares of Lumentum in a report on Monday, March 18th. Finally, Pivotal Research set a $101.00 target price on Nike and gave the company a buy rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $89.86.

Shares of Nike stock opened at $88.89 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.10. The company has a market capitalization of $138.77 billion, a price-to-earnings ratio of 35.70, a P/E/G ratio of 2.32 and a beta of 0.78. Nike has a fifty-two week low of $66.53 and a fifty-two week high of $90.00. The company has a 50-day moving average price of $83.47.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.04). The firm had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, equities analysts anticipate that Nike will post 2.9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.99%. Nike’s dividend payout ratio (DPR) is presently 35.34%.

In other Nike news, insider Elliott Hill sold 34,100 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total transaction of $3,012,394.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elizabeth J. Comstock sold 24,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the sale, the director now directly owns 38,813 shares in the company, valued at $3,292,894.92. The disclosure for this sale can be found here. Insiders have sold a total of 98,104 shares of company stock valued at $8,561,705 in the last quarter. Insiders own 3.90% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Stock Yards Bank & Trust Co. raised its stake in Nike by 1.0% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 241,583 shares of the footwear maker’s stock valued at $20,281,000 after purchasing an additional 2,386 shares during the period. Legacy Bridge LLC bought a new stake in Nike in the second quarter worth $294,000. Peoples Financial Services CORP. boosted its holdings in Nike by 88.6% during the second quarter. Peoples Financial Services CORP. now owns 2,342 shares of the footwear maker’s stock valued at $197,000 after acquiring an additional 1,100 shares during the period. Ingalls & Snyder LLC bought a new stake in Nike during the second quarter valued at about $200,000. Finally, Bogart Wealth LLC boosted its holdings in Nike by 27.3% during the second quarter. Bogart Wealth LLC now owns 4,364 shares of the footwear maker’s stock valued at $366,000 after acquiring an additional 935 shares during the period. 65.60% 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, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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