Nike (NKE) Given a $59.00 Price Target at Piper Jaffray Companies

Piper Jaffray Companies set a $59.00 price objective on Nike (NYSE:NKE) in a research report report published on Friday morning. The brokerage currently has a hold rating on the footwear maker’s stock.

Several other research analysts also recently commented on the stock. Jefferies Group downgraded shares of Nike to a buy rating in a research note on Tuesday, August 29th. Vetr downgraded shares of Nike from a strong-buy rating to a buy rating and set a $59.57 price target on the stock. in a research note on Monday, September 4th. Goldman Sachs Group downgraded shares of Nike from a buy rating to a neutral rating and raised their price target for the stock from $52.30 to $54.00 in a research note on Thursday, October 19th. Telsey Advisory Group dropped their target price on shares of Nike from $63.00 to $61.00 and set an outperform rating on the stock in a report on Wednesday, August 30th. Finally, Stifel Nicolaus reiterated a buy rating and set a $66.00 target price on shares of Nike in a report on Thursday, August 24th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $63.57.

Nike (NKE) traded down $1.48 during mid-day trading on Friday, reaching $63.29. 20,409,359 shares of the company traded hands, compared to its average volume of 9,997,224. The stock has a market cap of $105,673.35, a P/E ratio of 27.40, a PEG ratio of 3.04 and a beta of 0.64. Nike has a 52 week low of $50.35 and a 52 week high of $65.18. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping the Thomson Reuters’ 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 net margin of 11.13% and a return on equity of 31.24%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. analysts predict that Nike will post 2.28 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%. Nike’s dividend payout ratio (DPR) is 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 Monday, December 18th. The shares were sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the transaction, the chairman now directly owns 1,502,830 shares of the company’s stock, valued at approximately $97,683,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at $1,511,120. The disclosure for this sale can be found here. Insiders sold a total of 290,094 shares of company stock valued at $17,480,160 over the last quarter. 3.90% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Willingdon Wealth Management purchased a new position in shares of Nike during the 3rd quarter valued at approximately $114,000. Asset Planning Services Ltd. increased its holdings in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 7 shares in the last quarter. Atlantic Trust LLC purchased a new position in shares of Nike during the 2nd quarter valued at approximately $136,000. Howe & Rusling Inc. increased its holdings in shares of Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Kistler Tiffany Companies LLC increased its holdings in shares of Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after purchasing an additional 1,209 shares in the last quarter. 62.56% of the stock is owned by institutional investors.

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Nike Company Profile

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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