Nike (NYSE:NKE) Given a $83.00 Price Target at Goldman Sachs Group

Goldman Sachs Group set a $83.00 price objective on Nike (NYSE:NKE) in a research report report published on Thursday morning, Borsen Zeitung reports. The firm currently has a neutral rating on the footwear maker’s stock.

A number of other equities analysts have also issued reports on NKE. Stifel Nicolaus set a $96.00 target price on shares of Nike and gave the stock a buy rating in a research report on Wednesday, August 7th. Macquarie set a $89.00 target price on shares of Nike and gave the stock a buy rating in a research report on Friday, June 28th. Credit Suisse Group reiterated a buy rating and issued a $97.00 price objective on shares of Nike in a research report on Friday, June 28th. Pivotal Research set a $101.00 price objective on shares of Nike and gave the company a buy rating in a research report on Friday, June 28th. Finally, Zacks Investment Research upgraded shares of Nike from a sell rating to a hold rating and set a $95.00 price objective on the stock in a research report on Monday, May 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the company’s stock. Nike currently has an average rating of Buy and a consensus price target of $90.60.

Shares of NKE traded up $0.23 during mid-day trading on Thursday, reaching $87.93. 120,893 shares of the company’s stock were exchanged, compared to its average volume of 4,851,209. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39. The stock has a market capitalization of $137.24 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 2.33 and a beta of 0.79. The business’s fifty day simple moving average is $83.80 and its 200-day simple moving average is $84.78. Nike has a 52-week low of $66.53 and a 52-week high of $90.00.

Nike (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The business had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Nike had a return on equity of 45.12% and a net margin of 10.30%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. Equities research analysts predict that Nike will post 2.9 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.00%. Nike’s payout ratio is currently 35.34%.

In other news, insider Elliott Hill sold 34,100 shares of Nike stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $88.34, for a total transaction of $3,012,394.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth J. Comstock sold 24,000 shares of Nike stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total value of $2,036,160.00. Following the transaction, the director now directly owns 38,813 shares of the company’s stock, valued at approximately $3,292,894.92. The disclosure for this sale can be found here. Insiders have sold a total of 203,708 shares of company stock worth $17,556,051 over the last 90 days. Insiders own 3.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NKE. Shamrock Asset Management LLC acquired a new position in Nike in the 1st quarter valued at about $25,000. Jackson Grant Investment Advisers Inc. acquired a new position in Nike in the 1st quarter valued at about $25,000. Thor Advisors LLC acquired a new position in Nike in the 1st quarter valued at about $26,000. Hexavest Inc. acquired a new position in Nike in the 2nd quarter valued at about $30,000. Finally, Litman Gregory Asset Management LLC acquired a new position in Nike in the 2nd quarter valued at about $31,000. 65.04% of the stock is owned by institutional investors and hedge funds.

About Nike

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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Analyst Recommendations for Nike (NYSE:NKE)

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