Nike (NYSE:NKE) Price Target Raised to $64.00 at Canaccord Genuity

Nike (NYSE:NKE) had its price objective raised by Canaccord Genuity from $50.00 to $64.00 in a report released on Tuesday, December 19th, Marketbeat Ratings reports. Canaccord Genuity currently has a hold rating on the footwear maker’s stock.

A number of other research firms have also recently issued reports on NKE. Citigroup restated a buy rating and set a $74.00 target price on shares of Nike in a research note on Tuesday, December 19th. Telsey Advisory Group raised their target price on shares of Nike from $61.00 to $68.00 and gave the stock an outperform rating in a research note on Monday, December 18th. Buckingham Research raised their target price on shares of Nike from $64.00 to $71.00 and gave the stock a buy rating in a research note on Monday, December 18th. Piper Jaffray Companies set a $58.00 target price on shares of Nike and gave the stock a hold rating in a research note on Friday, December 15th. Finally, Pivotal Research set a $60.00 target price on shares of Nike and gave the stock a hold rating in a research note on Friday, December 15th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-one have assigned a buy rating to the stock. Nike presently has a consensus rating of Hold and a consensus price target of $64.40.

Nike (NYSE:NKE) opened at $64.67 on Tuesday. The firm has a market cap of $105,510.00, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.92 and a beta of 0.64. Nike has a 12-month low of $50.35 and a 12-month high of $65.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. Nike’s payout ratio is 34.63%.

In other Nike news, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the sale, the insider now directly owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John F. Slusher sold 125,722 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $63.17, for a total transaction of $7,941,858.74. Following the sale, the executive vice president now directly owns 268,169 shares in the company, valued at $16,940,235.73. The disclosure for this sale can be found here. Insiders have sold a total of 967,896 shares of company stock worth $60,257,267 over the last ninety days. 3.90% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of NKE. Janus Henderson Group PLC boosted its stake in shares of Nike by 4,252.6% in the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after purchasing an additional 16,237,557 shares during the last quarter. Capital World Investors boosted its stake in shares of Nike by 58.7% in the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after purchasing an additional 8,058,601 shares during the last quarter. Harding Loevner LP boosted its stake in shares of Nike by 97.1% in the 3rd quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after purchasing an additional 5,987,728 shares during the last quarter. OppenheimerFunds Inc. lifted its position in shares of Nike by 7,020.1% during the 1st quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock valued at $298,145,000 after acquiring an additional 5,274,656 shares during the period. Finally, Orbis Allan Gray Ltd acquired a new position in shares of Nike during the 2nd quarter valued at $226,588,000. 62.67% of the stock is currently owned by institutional investors.

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About Nike

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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