Wells Fargo & Co upgraded shares of Nike (NYSE:NKE) from an equal weight rating to an overweight rating in a report released on Monday morning, BenzingaRatingsTable reports. They currently have $99.00 price objective on the footwear maker’s stock, up from their prior price objective of $87.00.
Several other equities research analysts have also commented on NKE. Robert W. Baird boosted their price objective on shares of Nike from $92.00 to $103.00 and gave the stock a neutral rating in a research report on Friday, December 20th. Argus upped their target price on shares of Nike from $105.00 to $115.00 and gave the company a buy rating in a report on Tuesday, December 24th. They noted that the move was a valuation call. Telsey Advisory Group upped their target price on shares of Nike from $90.00 to $95.00 and gave the company an outperform rating in a report on Wednesday, March 25th. Morgan Stanley reduced their target price on shares of Nike from $119.00 to $88.00 and set an overweight rating on the stock in a report on Tuesday, March 24th. Finally, Raymond James reduced 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, March 25th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. Nike has an average rating of Buy and an average target price of $98.13.
Shares of Nike stock traded up $0.91 on Monday, hitting $80.14. The company’s stock had a trading volume of 12,731,169 shares, compared to its average volume of 9,818,554. Nike has a 52-week low of $60.00 and a 52-week high of $105.62. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average price of $86.96 and a 200-day moving average price of $93.49. The company has a market capitalization of $128.86 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 2.40 and a beta of 0.82.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Friday, February 28th. Nike’s dividend payout ratio (DPR) is presently 39.36%.
In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Thursday, March 26th. The stock was bought at an average price of $84.22 per share, with a total value of $210,550.00. Following the completion of the transaction, the director now directly owns 11,851 shares of the company’s stock, valued at $998,091.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 8,500 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $892,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 238,916 shares of company stock valued at $24,328,454. Corporate insiders own 3.80% of the company’s stock.
Large investors have recently modified their holdings of the business. Firestone Capital Management bought a new position in Nike during the fourth quarter worth $25,000. Sowa Financial Group Inc. bought a new position in Nike during the fourth quarter worth $27,000. LFA Lugano Financial Advisors SA bought a new position in Nike during the fourth quarter worth $33,000. Carmichael Hill & Associates Inc. bought a new position in Nike during the fourth quarter worth $37,000. Finally, PSI Advisors LLC bought a new position in Nike during the fourth quarter worth $37,000. 65.40% of the stock is owned by institutional investors.
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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