NIKE (NYSE:NKE) Given New $160.00 Price Target at Jefferies Financial Group

Posted by Defense World Staff on Mar 23rd, 2023

NIKE (NYSE:NKE – Get Rating) had its price objective upped by Jefferies Financial Group from $140.00 to $160.00 in a research report report published on Wednesday, The Fly reports. They currently have a buy rating on the footwear maker’s stock. Jefferies Financial Group also issued estimates for NIKE’s Q3 2023 earnings at $0.56 EPS and Q1 2024 earnings at $1.09 EPS.

A number of other equities analysts have also issued reports on the stock. Barclays upgraded shares of NIKE from an equal weight rating to an overweight rating and upped their target price for the stock from $110.00 to $154.00 in a research report on Wednesday. Morgan Stanley upped their target price on shares of NIKE from $138.00 to $140.00 and gave the stock an overweight rating in a research report on Monday, March 13th. StockNews.com began coverage on shares of NIKE in a research report on Thursday, March 16th. They set a hold rating on the stock. OTR Global upgraded shares of NIKE from a mixed rating to a positive rating in a research report on Friday, March 10th. Finally, Raymond James upped their target price on shares of NIKE from $130.00 to $135.00 and gave the stock an outperform rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of Moderate Buy and an average target price of $135.07.

NIKE Price Performance

NYSE:NKE opened at $119.50 on Wednesday. The firm has a market cap of $185.29 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 3.88 and a beta of 1.10. NIKE has a 12 month low of $82.22 and a 12 month 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’s 50-day moving average price is $123.42 and its two-hundred day moving average price is $110.26.

NIKE (NYSE:NKE – Get Rating) last released its quarterly earnings results on Tuesday, March 21st. The footwear maker reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.24. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.48 billion. NIKE had a net margin of 11.47% and a return on equity of 36.83%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. On average, equities analysts anticipate that NIKE will post 3.14 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 6th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, March 3rd. NIKE’s payout ratio is 38.31%.

Insider Buying and Selling

In related 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 completion of the transaction, the executive vice president now owns 60,213 shares in the company, valued at $7,466,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 completion of the transaction, the executive vice president now owns 60,213 shares in the company, valued at $7,466,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter B. Henry bought 557 shares of NIKE stock in a transaction that occurred on Tuesday, February 7th. The shares were acquired at an average price of $125.45 per share, with a total value of $69,875.65. Following the acquisition, the director now directly owns 4,062 shares of the company’s stock, valued at approximately $509,577.90. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NKE. Accel Wealth Management lifted its stake in NIKE by 80.6% in the fourth quarter. Accel Wealth Management now owns 224 shares of the footwear maker’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Legend Financial Advisors Inc. lifted its stake in NIKE by 164.8% in the fourth quarter. Legend Financial Advisors Inc. now owns 241 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 150 shares during the last quarter. Turim 21 Investimentos Ltda. lifted its stake in NIKE by 821.1% in the third quarter. Turim 21 Investimentos Ltda. now owns 350 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 312 shares during the last quarter. Financial Freedom LLC acquired a new stake in NIKE in the fourth quarter valued at $29,000. Finally, Ruedi Wealth Management Inc. acquired a new stake in NIKE in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 63.20% of the company’s stock.

About NIKE

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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.