Macquarie Analysts Give Nike (NKE) a $72.00 Price Target

Macquarie set a $72.00 price target on Nike (NYSE:NKE) in a report published on Friday morning. The brokerage currently has a buy rating on the footwear maker’s stock.

NKE has been the topic of a number of other reports. Goldman Sachs Group set a $59.00 price target on shares of Nike and gave the stock a neutral rating in a research report on Thursday, December 14th. HSBC cut shares of Nike from a buy rating to a hold rating and lifted their price target for the stock from $58.95 to $62.00 in a research report on Tuesday, November 28th. Zacks Investment Research raised shares of Nike from a sell rating to a hold rating in a research report on Tuesday, October 24th. B. Riley lifted their price target on shares of Nike from $53.00 to $61.00 and gave the stock a neutral rating in a research report on Friday. Finally, Citigroup reissued a buy rating and set a $65.00 price target (down from $67.00) on shares of Nike in a research report on Wednesday, September 27th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $63.52.

Nike (NYSE NKE) opened at $63.29 on Friday. The firm has a market cap of $103,260.00, a price-to-earnings 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 current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.24%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. research analysts anticipate that Nike will post 2.28 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be paid a $0.20 dividend. 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 1.26%. The ex-dividend date is Friday, December 1st. Nike’s payout ratio is presently 34.63%.

In other news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value 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 approximately $90,124,612.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The disclosure for this sale can be found here. Insiders sold a total of 290,094 shares of company stock worth $17,480,160 over the last quarter. Company insiders own 3.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Fiduciary Trust Co. grew its position in shares of Nike by 4.9% in the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after acquiring an additional 10,840 shares during the period. Sterling Investment Advisors Ltd. grew its position in shares of Nike by 651.4% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after acquiring an additional 23,450 shares during the period. Royal Bank of Scotland Group PLC grew its position in shares of Nike by 6.2% in the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after acquiring an additional 12,201 shares during the period. Great Lakes Advisors LLC boosted its holdings in shares of Nike by 4.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock worth $5,732,000 after buying an additional 4,030 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in shares of Nike by 20.0% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock worth $6,118,000 after buying an additional 17,285 shares during the period. 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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