Nike Inc. (NYSE:NKE) received a $58.00 price target from equities researchers at Piper Jaffray Cos. in a report issued on Thursday. The brokerage currently has a a “hold” rating on the footwear maker’s stock. Piper Jaffray Cos.’s price target suggests a potential upside of 5.17% from the company’s previous close.
NKE has been the subject of several other reports. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $62.64 price target for the company in a report on Monday, May 30th. Deutsche Bank AG reissued a “buy” rating on shares of Nike in a report on Tuesday, May 31st. Morgan Stanley downgraded shares of Nike from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $69.00 to $60.00 in a report on Wednesday, June 1st. Bank of America Corp. downgraded shares of Nike from a “buy” rating to a “neutral” rating and cut their price target for the company from $72.00 to $60.00 in a report on Wednesday, June 1st. Finally, Zacks Investment Research downgraded shares of Nike from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.27.
Shares of Nike (NYSE:NKE) opened at 55.15 on Thursday. Nike has a 1-year low of $51.48 and a 1-year high of $68.19. The company’s 50-day moving average is $56.85 and its 200 day moving average is $57.42. The firm has a market capitalization of $92.52 billion, a price-to-earnings ratio of 25.53 and a beta of 0.52.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. Nike’s dividend payout ratio (DPR) is presently 29.63%.
In related news, EVP John F. Slusher sold 72,696 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the completion of the sale, the executive vice president now owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Lechleiter acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were purchased at an average cost of $55.09 per share, with a total value of $55,090.00. Following the transaction, the director now directly owns 23,682 shares of the company’s stock, valued at $1,304,641.38. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Nike by 0.4% in the second quarter. Vanguard Group Inc. now owns 89,158,174 shares of the footwear maker’s stock valued at $4,921,530,000 after buying an additional 366,833 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock valued at $2,265,096,000 after buying an additional 204,944 shares in the last quarter. Wellington Management Group LLP boosted its stake in Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares in the last quarter. Janus Capital Management LLC boosted its stake in Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock valued at $1,405,003,000 after buying an additional 3,203,177 shares in the last quarter. Finally, Lone Pine Capital LLC boosted its stake in Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock valued at $1,010,475,000 after buying an additional 6,309,324 shares in the last quarter. 62.04% of the stock is owned by institutional investors and hedge funds.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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