Nike (NYSE:NKE) had its price objective lifted by Piper Sandler from to in a report published on Wednesday morning, The Fly reports. Piper Sandler also issued estimates for Nike’s Q4 2020 earnings at $0.31 EPS, FY2020 earnings at $2.42 EPS, Q1 2021 earnings at $0.72 EPS, Q2 2021 earnings at $0.76 EPS, Q3 2021 earnings at $0.78 EPS, Q4 2021 earnings at $0.49 EPS, FY2021 earnings at $2.74 EPS, Q1 2022 earnings at $0.87 EPS, Q2 2022 earnings at $0.89 EPS, Q3 2022 earnings at $0.90 EPS and FY2022 earnings at $3.22 EPS.
NKE has been the topic of several other research reports. Goldman Sachs Group restated a buy rating and issued a $102.00 target price on shares of Nike in a report on Wednesday. Pivotal Research cut their target price on shares of Nike from $117.00 to $78.00 and set a buy rating on the stock in a report on Monday. BMO Capital Markets cut their target price on shares of Nike from $110.00 to $87.00 and set an outperform rating on the stock in a report on Wednesday. Raymond James cut their target price on shares of Nike from $110.00 to $100.00 and set an outperform rating on the stock in a report on Wednesday. Finally, Consumer Edge assumed coverage on shares of Nike in a report on Friday, December 27th. They issued an overweight rating and a $110.00 target price on the stock. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $97.79.
NYSE NKE traded up $5.29 on Wednesday, reaching $84.30. 17,200,648 shares of the company’s stock traded hands, compared to its average volume of 9,679,985. Nike has a 12 month low of $60.00 and a 12 month high of $105.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.98 and a quick ratio of 1.23. The stock has a 50-day simple moving average of $88.99 and a 200 day simple moving average of $93.64. The stock has a market cap of $112.64 billion, a PE ratio of 31.11, a P/E/G ratio of 2.28 and a beta of 0.84.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, February 28th. Nike’s dividend payout ratio (DPR) is currently 39.36%.
In other Nike news, Director Peter B. Henry sold 2,416 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $101.14, for a total transaction of $244,354.24. Following the completion of the transaction, the director now owns 4,046 shares of the company’s stock, valued at $409,212.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hilary K. Krane sold 28,000 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $101.00, for a total value of $2,828,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 271,916 shares of company stock worth $27,686,864. 3.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Solstein Capital LLC purchased a new position in Nike in the 4th quarter worth about $236,000. Resources Management Corp CT ADV purchased a new position in Nike in the 3rd quarter worth about $144,000. Worldquant Millennium Advisors LLC raised its position in Nike by 685.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 394,690 shares of the footwear maker’s stock worth $37,069,000 after buying an additional 344,420 shares during the last quarter. K.J. Harrison & Partners Inc grew its stake in shares of Nike by 67.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 32,347 shares of the footwear maker’s stock valued at $3,277,000 after purchasing an additional 13,000 shares during the period. Finally, CENTRAL TRUST Co grew its stake in shares of Nike by 2.8% during the 4th quarter. CENTRAL TRUST Co now owns 36,560 shares of the footwear maker’s stock valued at $3,704,000 after purchasing an additional 982 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.
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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