JPMorgan Chase & Co. Analysts Give Nike (NKE) a $58.00 Price Target

JPMorgan Chase & Co. set a $58.00 price target on Nike (NYSE:NKE) in a research report sent to investors on Tuesday. The firm currently has a neutral rating on the footwear maker’s stock.

Other analysts have also issued reports about the stock. Vetr lowered shares of Nike from a strong-buy rating to a buy rating and set a $58.87 target price for the company. in a report on Tuesday, September 12th. Robert W. Baird reiterated a buy rating and set a $65.00 target price on shares of Nike in a report on Sunday, September 10th. Deutsche Bank reiterated a buy rating and set a $61.00 target price (down from $69.00) on shares of Nike in a report on Wednesday, September 13th. DA Davidson reiterated a buy rating and set a $69.00 target price on shares of Nike in a report on Thursday, September 14th. Finally, Morgan Stanley set a $64.00 target price on shares of Nike and gave the stock a buy rating in a report on Monday, September 18th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-two have given a buy rating to the stock. Nike has a consensus rating of Hold and an average target price of $64.09.

Nike (NYSE:NKE) traded down $0.04 during trading on Tuesday, hitting $63.44. 5,779,900 shares of the stock were exchanged, compared to its average volume of 6,127,300. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $104,070.00, a price-to-earnings ratio of 27.46, a P/E/G ratio of 2.88 and a beta of 0.64. Nike has a one year low of $50.35 and a one year high of $65.18.

Nike (NYSE:NKE) last posted its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. Nike’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. sell-side analysts anticipate that Nike will post 2.25 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th were paid a dividend of $0.20 per share. This is an increase from Nike’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. Nike’s dividend payout ratio (DPR) is currently 34.63%.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the transaction, the insider now directly owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock valued at $60,257,267 in the last ninety days. Insiders own 3.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Asset Planning Services Ltd. increased its position in shares of 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 acquiring an additional 7 shares in the last quarter. Willingdon Wealth Management bought a new stake in shares of Nike during the third quarter valued at approximately $114,000. Atlantic Trust LLC bought a new stake in shares of Nike during the second quarter valued at approximately $136,000. Kistler Tiffany Companies LLC increased its position in shares of 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 acquiring an additional 1,209 shares in the last quarter. Finally, Howe & Rusling Inc. increased its position in shares of 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 acquiring an additional 2,329 shares in the last quarter. 62.67% of the stock is owned by institutional investors and hedge funds.

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About Nike

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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