Goldman Sachs Group Reiterates “$62.00” Price Target for Nike (NYSE:NKE)

Goldman Sachs Group set a $62.00 price objective on Nike (NYSE:NKE) in a report released on Thursday, December 28th. The firm currently has a neutral rating on the footwear maker’s stock.

Other research analysts have also recently issued research reports about the company. B. Riley reissued a neutral rating on shares of Nike in a research note on Wednesday, November 1st. Stifel Nicolaus reissued a buy rating and issued a $74.00 target price on shares of Nike in a research note on Friday, December 22nd. FBR & Co reissued a hold rating and issued a $53.00 target price on shares of Nike in a research note on Thursday, September 14th. Susquehanna Bancshares reissued a neutral rating and issued a $64.00 target price on shares of Nike in a research note on Tuesday, September 19th. Finally, Raymond James Financial reduced their price objective on Nike from $71.00 to $67.00 and set an outperform rating on the stock in a research note on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $64.40.

Shares of Nike (NYSE:NKE) opened at $64.29 on Thursday. The stock has a market capitalization of $104,890.00, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 2.90 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 current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.

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

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

In other Nike news, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the sale, the insider now directly owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock valued at $60,257,267 in the last three months. 3.90% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Acropolis Investment Management LLC grew its position in shares of Nike by 121.3% during the 4th quarter. Acropolis Investment Management LLC now owns 17,230 shares of the footwear maker’s stock valued at $1,078,000 after acquiring an additional 9,444 shares during the period. Rockland Trust Co. lifted its stake in shares of Nike by 6.3% during the 4th quarter. Rockland Trust Co. now owns 166,004 shares of the footwear maker’s stock valued at $10,384,000 after buying an additional 9,906 shares in the last quarter. Kistler Tiffany Companies LLC lifted its stake in shares of Nike by 23.3% during the 4th quarter. Kistler Tiffany Companies LLC now owns 5,935 shares of the footwear maker’s stock valued at $371,000 after buying an additional 1,121 shares in the last quarter. VNBTrust National Association purchased a new position in shares of Nike during the 4th quarter valued at $232,000. Finally, Bristol John W & Co. Inc. NY lifted its stake in shares of Nike by 8.6% during the 4th quarter. Bristol John W & Co. Inc. NY now owns 1,314,749 shares of the footwear maker’s stock valued at $82,238,000 after buying an additional 103,696 shares in the last quarter. 62.67% of the stock is owned by hedge funds and other institutional investors.

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Nike Company Profile

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.

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