JPMorgan Chase & Co. Boosts Nike (NKE) Price Target to $90.00

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Nike (NYSE:NKE) had its price target raised by JPMorgan Chase & Co. from $85.00 to $90.00 in a research note released on Tuesday, MarketBeat Ratings reports. They currently have an overweight rating on the footwear maker’s stock.

Other equities research analysts also recently issued reports about the stock. Credit Suisse Group set a $90.00 target price on shares of Nike and gave the stock a buy rating in a research report on Wednesday, January 2nd. Macquarie set a $98.00 target price on shares of Nike and gave the stock a buy rating in a research report on Tuesday, December 4th. UBS Group set a $78.00 target price on shares of Nike and gave the stock a neutral rating in a research report on Thursday, December 27th. Wells Fargo & Co set a $82.00 target price on shares of Nike and gave the stock a neutral rating in a research report on Monday, November 19th. Finally, Robert W. Baird reiterated a buy rating and set a $94.00 target price on shares of Nike in a research report on Monday, November 19th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-six have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $86.67.

Shares of Nike stock opened at $88.01 on Tuesday. The company has a market cap of $136.43 billion, a P/E ratio of 36.37, a P/E/G ratio of 2.67 and a beta of 0.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14. Nike has a 1 year low of $63.21 and a 1 year high of $88.59.

Nike (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. Nike had a net margin of 5.66% and a return on equity of 44.85%. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the company earned $0.68 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that Nike will post 2.64 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.00%. Nike’s payout ratio is presently 36.36%.

In related news, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the transaction, the chairman now owns 1,687,863 shares in the company, valued at approximately $124,361,745.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. Insiders have sold a total of 816,500 shares of company stock worth $63,317,465 in the last quarter. 3.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its stake in Nike by 9.2% during the 3rd quarter. Jennison Associates LLC now owns 16,095,107 shares of the footwear maker’s stock valued at $1,363,577,000 after purchasing an additional 1,354,484 shares in the last quarter. National Asset Management Inc. increased its stake in Nike by 4.7% during the 3rd quarter. National Asset Management Inc. now owns 14,586 shares of the footwear maker’s stock valued at $1,237,000 after purchasing an additional 655 shares in the last quarter. Alliancebernstein L.P. increased its stake in Nike by 7.8% during the 3rd quarter. Alliancebernstein L.P. now owns 14,064,449 shares of the footwear maker’s stock valued at $1,191,540,000 after purchasing an additional 1,015,073 shares in the last quarter. Paragon Capital Management LLC increased its stake in Nike by 1,578.4% during the 3rd quarter. Paragon Capital Management LLC now owns 142,517 shares of the footwear maker’s stock valued at $12,074,000 after purchasing an additional 134,026 shares in the last quarter. Finally, Northeast Financial Consultants Inc increased its stake in Nike by 67.8% during the 3rd quarter. Northeast Financial Consultants Inc now owns 4,954 shares of the footwear maker’s stock valued at $419,000 after purchasing an additional 2,002 shares in the last quarter. Institutional investors own 64.77% of the company’s stock.

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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Analyst Recommendations for Nike (NYSE:NKE)

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