NIKE (NYSE:NKE) Given New $138.00 Price Target at Telsey Advisory Group

NIKE (NYSE:NKE – Get Rating) had its price objective upped by Telsey Advisory Group from $133.00 to $138.00 in a report released on Friday, Benzinga reports. Telsey Advisory Group currently has an outperform rating on the footwear maker’s stock. Telsey Advisory Group also issued estimates for NIKE’s Q4 2023 earnings at $0.80 EPS, FY2023 earnings at $3.11 EPS, Q2 2024 earnings at $1.10 EPS, Q4 2024 earnings at $1.01 EPS and FY2024 earnings at $3.95 EPS.

A number of other analysts have also commented on the company. UBS Group set a $151.00 price target on NIKE in a research note on Monday, March 13th. The Goldman Sachs Group set a $133.00 price target on NIKE in a research note on Monday, January 2nd. Bank of America lifted their price target on NIKE from $112.00 to $120.00 in a research note on Wednesday, December 21st. Robert W. Baird lifted their price target on NIKE from $120.00 to $130.00 in a research note on Wednesday, December 21st. Finally, Royal Bank of Canada lifted their price target on NIKE from $130.00 to $145.00 and gave the company an outperform rating in a research note on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, NIKE has an average rating of Moderate Buy and a consensus target price of $129.66.

NIKE Price Performance

NYSE:NKE traded down $0.26 during trading hours on Friday, hitting $120.39. The company’s stock had a trading volume of 12,868,912 shares, compared to its average volume of 6,002,870. The stock has a fifty day simple moving average of $123.67 and a 200-day simple moving average of $109.91. The company has a market capitalization of $186.67 billion, a P/E ratio of 33.91, a PEG ratio of 3.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.69 and a quick ratio of 1.78. NIKE has a twelve month low of $82.22 and a twelve month high of $139.86.

NIKE (NYSE:NKE – Get Rating) last released its quarterly earnings data on Tuesday, December 20th. The footwear maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.20. The business had revenue of $13.32 billion for the quarter, compared to analyst estimates of $12.61 billion. NIKE had a return on equity of 36.83% and a net margin of 11.47%. On average, analysts anticipate that NIKE will post 3.13 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 6th will be paid a $0.34 dividend. The ex-dividend date is Friday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 1.13%. NIKE’s dividend payout ratio (DPR) is presently 38.31%.

Insider Buying and Selling at NIKE

In other news, Director Peter B. Henry acquired 557 shares of NIKE stock in a transaction on Tuesday, February 7th. The stock was purchased at an average price of $125.45 per share, with a total value of $69,875.65. Following the completion of the purchase, the director now owns 4,062 shares of the company’s stock, valued at approximately $509,577.90. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Monique S. Matheson sold 5,000 shares of NIKE stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the transaction, the executive vice president now owns 60,213 shares of the company’s stock, valued at $7,466,412. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter B. Henry bought 557 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were bought at an average cost of $125.45 per share, for a total transaction of $69,875.65. Following the transaction, the director now owns 4,062 shares of the company’s stock, valued at $509,577.90. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BCK Partners Inc. purchased a new position in NIKE in the first quarter worth $2,839,000. Loomis Sayles & Co. L P boosted its position in NIKE by 138.2% in the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after purchasing an additional 6,518 shares during the last quarter. Merit Financial Group LLC boosted its position in NIKE by 13.3% in the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after purchasing an additional 186 shares during the last quarter. Bridgewater Associates LP bought a new stake in shares of NIKE in the first quarter valued at $278,000. Finally, Federated Hermes Inc. raised its stake in shares of NIKE by 9.8% in the first quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock valued at $58,392,000 after buying an additional 38,903 shares during the period. Hedge funds and other institutional investors own 63.20% of the company’s stock.

NIKE Company Profile

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NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.