Nike (NYSE:NKE) had its price objective upped by Telsey Advisory Group from $87.00 to $92.00 in a research note published on Tuesday, September 18th, MarketBeat Ratings reports. They currently have an outperform rating on the footwear maker’s stock.

Other research analysts have also issued reports about the stock. Wedbush lifted their price objective on shares of Nike from $85.00 to $90.00 and gave the company an outperform rating in a research note on Monday, September 10th. Morgan Stanley reiterated a buy rating and issued a $88.00 price objective on shares of Nike in a research note on Wednesday, September 12th. UBS Group lowered shares of Nike from a buy rating to a neutral rating and lifted their price objective for the company from $76.00 to $78.00 in a research note on Thursday, June 21st. Wells Fargo & Co set a $82.00 price objective on shares of Nike and gave the company a neutral rating in a research note on Monday, August 6th. Finally, Buckingham Research lowered shares of Nike from a buy rating to a neutral rating and lifted their price objective for the company from $75.00 to $80.00 in a research note on Friday, June 22nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $84.60.

Nike stock traded up $1.40 during mid-day trading on Tuesday, reaching $75.91. The company’s stock had a trading volume of 9,854,000 shares, compared to its average volume of 7,285,737. Nike has a 12-month low of $50.40 and a 12-month high of $86.04. The firm has a market capitalization of $135.60 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 2.81 and a beta of 0.65. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39.

Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.92 billion. During the same period in the previous year, the business earned $0.57 EPS. Nike’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Nike will post 2.63 EPS for the current year.

Nike announced that its board has initiated a share repurchase program on Thursday, June 28th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the footwear maker to purchase up to 12.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, August 31st. Nike’s dividend payout ratio is currently 33.06%.

In related news, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction on Monday, July 30th. The shares were sold at an average price of $76.07, for a total value of $760,700.00. Following the transaction, the executive vice president now owns 86,774 shares in the company, valued at approximately $6,600,898.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $83.15, for a total transaction of $1,413,550.00. Following the completion of the transaction, the executive vice president now owns 104,737 shares in the company, valued at approximately $8,708,881.55. The disclosure for this sale can be found here. Insiders have sold a total of 72,778 shares of company stock valued at $5,969,246 over the last ninety days. 3.90% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of NKE. BlackRock Inc. increased its position in shares of Nike by 3.3% in the first quarter. BlackRock Inc. now owns 81,870,764 shares of the footwear maker’s stock valued at $5,439,495,000 after acquiring an additional 2,649,041 shares during the period. Bank of New York Mellon Corp increased its position in shares of Nike by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock valued at $2,226,327,000 after acquiring an additional 1,273,548 shares during the period. Northern Trust Corp increased its position in shares of Nike by 0.3% in the second quarter. Northern Trust Corp now owns 20,669,184 shares of the footwear maker’s stock valued at $1,646,920,000 after acquiring an additional 64,030 shares during the period. FMR LLC increased its position in shares of Nike by 1.4% in the second quarter. FMR LLC now owns 15,661,001 shares of the footwear maker’s stock valued at $1,247,869,000 after acquiring an additional 219,743 shares during the period. Finally, Edgewood Management LLC increased its position in shares of Nike by 2.6% in the second quarter. Edgewood Management LLC now owns 15,500,497 shares of the footwear maker’s stock valued at $1,235,080,000 after acquiring an additional 388,901 shares during the period. Institutional investors own 63.97% of the company’s stock.

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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Analyst Recommendations for Nike (NYSE:NKE)

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