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

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

A number of other equities analysts have also recently weighed in on NKE. B. Riley reissued a neutral rating on shares of Nike in a report on Wednesday, November 1st. Stifel Nicolaus reissued a buy rating and issued a $74.00 price target on shares of Nike in a report on Friday, December 22nd. Jefferies Group set a $59.00 price target on Nike and gave the stock a neutral rating in a report on Thursday, December 28th. Canaccord Genuity reissued a hold rating and issued a $50.00 price target (down from $51.00) on shares of Nike in a report on Wednesday, September 27th. Finally, Barclays set a $71.00 price target on Nike and gave the stock a buy rating in a report on Thursday, December 28th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $64.09.

Shares of Nike (NYSE:NKE) opened at $63.98 on Tuesday. 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 company has a market capitalization of $104,380.00, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. Nike has a 12-month low of $50.35 and a 12-month high of $65.18.

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

The company also recently declared 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. The ex-dividend date was Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.25%. Nike’s dividend payout ratio is currently 34.63%.

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

A number of large investors have recently made changes to their positions in NKE. Asset Planning Services Ltd. boosted its position in shares of Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after buying an additional 7 shares during the period. Willingdon Wealth Management purchased a new stake in shares of Nike in the third quarter worth about $114,000. Atlantic Trust LLC purchased a new stake in shares of Nike in the second quarter worth about $136,000. Kistler Tiffany Companies LLC boosted its position in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after buying an additional 1,209 shares during the period. Finally, Howe & Rusling Inc. boosted its position in shares of Nike by 751.3% in the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after buying an additional 2,329 shares during the period. Institutional investors own 62.67% of the company’s stock.

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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.

Analyst Recommendations for Nike (NYSE:NKE)

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