NIKE (NYSE:NKE) Price Target Raised to $155.00 at UBS Group

Posted by Defense World Staff on Mar 23rd, 2023

NIKE (NYSE:NKE – Get Rating) had its price objective lifted by UBS Group from $151.00 to $155.00 in a research report released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the footwear maker’s stock.

NKE has been the subject of several other research reports. Robert W. Baird upped their target price on shares of NIKE from $120.00 to $130.00 in a research report on Wednesday, December 21st. OTR Global raised shares of NIKE from a mixed rating to a positive rating in a research note on Friday, March 10th. Piper Sandler upped their price target on shares of NIKE from $95.00 to $105.00 and gave the stock a neutral rating in a research note on Wednesday, December 21st. Barclays raised shares of NIKE from an equal weight rating to an overweight rating and upped their price target for the stock from $110.00 to $154.00 in a research note on Wednesday. Finally, Sanford C. Bernstein set a $122.00 price target on shares of NIKE in a research note on Monday, January 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $135.07.

NIKE Price Performance

Shares of NYSE:NKE opened at $119.50 on Wednesday. NIKE has a fifty-two week low of $82.22 and a fifty-two week high of $139.86. The company has a quick ratio of 1.78, a current ratio of 2.69 and a debt-to-equity ratio of 0.58. The company has a market cap of $185.29 billion, a PE ratio of 33.66, a P/E/G ratio of 3.88 and a beta of 1.10. The firm has a 50-day simple moving average of $123.42 and a 200 day simple moving average of $110.26.

NIKE (NYSE:NKE – Get Rating) last posted its earnings results on Tuesday, March 21st. The footwear maker reported $0.79 EPS for the quarter, topping the consensus estimate of $0.55 by $0.24. NIKE had a net margin of 11.47% and a return on equity of 36.83%. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.48 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. NIKE’s quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE will post 3.14 EPS for the current year.

NIKE Dividend Announcement

The business 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 annualized dividend and a yield of 1.14%. NIKE’s dividend payout ratio is presently 38.31%.

Insider Buying and Selling at NIKE

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Claro Advisors LLC increased its stake in shares of NIKE by 30.5% during the 4th quarter. Claro Advisors LLC now owns 8,562 shares of the footwear maker’s stock worth $1,002,000 after purchasing an additional 2,000 shares during the last quarter. Mather Group LLC. grew its stake in NIKE by 4.3% in the 4th quarter. Mather Group LLC. now owns 8,668 shares of the footwear maker’s stock valued at $1,014,000 after buying an additional 354 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new position in NIKE in the 4th quarter valued at $230,000. Sheets Smith Wealth Management grew its stake in NIKE by 0.3% in the 4th quarter. Sheets Smith Wealth Management now owns 78,675 shares of the footwear maker’s stock valued at $9,206,000 after buying an additional 248 shares during the last quarter. Finally, Great Lakes Retirement Inc. acquired a new position in NIKE in the 4th quarter valued at $1,474,000. Institutional investors and hedge funds 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.