Main First Bank Analysts Give Nike (NKE) a $75.00 Price Target

Main First Bank set a $75.00 price objective on Nike (NYSE:NKE) in a research report released on Wednesday. The brokerage currently has a buy rating on the footwear maker’s stock.

A number of other equities analysts have also weighed in on the company. Vetr upgraded Nike from a buy rating to a strong-buy rating and set a $59.09 target price on the stock in a research note on Wednesday, September 6th. Robert W. Baird restated a buy rating and issued a $65.00 target price on shares of Nike in a research note on Sunday, September 10th. Sanford C. Bernstein began coverage on Nike in a research note on Tuesday, September 12th. They issued an outperform rating and a $69.00 target price on the stock. Deutsche Bank restated a buy rating and issued a $61.00 target price (down from $69.00) on shares of Nike in a research note on Wednesday, September 13th. Finally, Wedbush restated a neutral rating and issued a $53.40 target price (up from $52.00) on shares of Nike in a research note on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Nike currently has an average rating of Hold and a consensus price target of $64.09.

Shares of Nike (NYSE:NKE) opened at $63.98 on Wednesday. The stock has a market capitalization of $104,380.00, a PE ratio of 27.70, a P/E/G ratio of 2.88 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. Nike has a 1-year low of $50.35 and a 1-year high of $65.18.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. analysts expect that Nike will post 2.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.25%. This is a positive change from Nike’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 1st. Nike’s dividend payout ratio (DPR) is presently 34.63%.

In related news, COO Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the transaction, the chief operating officer now directly owns 165,591 shares in the company, valued at approximately $10,448,792.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now owns 1,637,736 shares in the company, valued at $90,124,612.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 967,896 shares of company stock worth $60,257,267. 3.90% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of NKE. Janus Henderson Group PLC grew its position in Nike by 4,252.6% during the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after acquiring an additional 16,237,557 shares during the last quarter. Capital World Investors lifted its holdings in Nike by 58.7% in the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after buying an additional 8,058,601 shares during the period. Harding Loevner LP lifted its holdings in Nike by 97.1% in the 3rd quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock worth $390,421,000 after buying an additional 5,987,728 shares during the period. Orbis Allan Gray Ltd purchased a new stake in Nike in the 2nd quarter worth approximately $226,588,000. Finally, Alliancebernstein L.P. lifted its holdings in Nike by 25.5% in the 2nd quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock worth $880,730,000 after buying an additional 3,033,280 shares during the period. Institutional investors and hedge funds own 62.67% of the company’s stock.

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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.

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