Vetr upgraded shares of Nike Inc. (NYSE:NKE) from a hold rating to a buy rating in a research report sent to investors on Monday. They currently have $58.12 price target on the footwear maker’s stock.
NKE has been the topic of several other reports. B. Riley reaffirmed a neutral rating and set a $55.00 price target (down from $62.00) on shares of Nike in a research note on Monday. Deutsche Bank AG reaffirmed a buy rating and set a $75.00 price target on shares of Nike in a research note on Sunday. Goldman Sachs Group Inc. reaffirmed a buy rating and set a $66.00 price target on shares of Nike in a research note on Sunday. Canaccord Genuity decreased their price target on shares of Nike from $56.00 to $52.00 and set a hold rating on the stock in a research note on Friday, September 23rd. Finally, Piper Jaffray Cos. set a $58.00 price target on shares of Nike and gave the stock a hold rating in a research note on Thursday, September 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $64.35.
Nike (NYSE:NKE) opened at 53.25 on Monday. Nike has a 52 week low of $51.48 and a 52 week high of $68.19. The stock has a market capitalization of $89.33 billion, a P/E ratio of 24.65 and a beta of 0.52. The firm’s 50-day moving average is $56.71 and its 200-day moving average is $57.30.
Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.17. The firm had revenue of $9.06 billion for the quarter. Nike had a net margin of 11.60% and a return on equity of 30.27%. Nike’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 earnings per share. On average, equities research analysts predict that Nike will post $2.40 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, September 1st. Nike’s dividend payout ratio (DPR) is presently 28.83%.
In related news, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the transaction, the executive vice president now owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Lechleiter purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was bought at an average cost of $55.09 per share, for a total transaction of $55,090.00. Following the purchase, the director now directly owns 23,682 shares in the company, valued at approximately $1,304,641.38. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Nike by 0.4% in the second quarter. Vanguard Group Inc. now owns 89,158,174 shares of the footwear maker’s stock worth $4,921,530,000 after buying an additional 366,833 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of 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 worth $2,265,096,000 after buying an additional 204,944 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock worth $1,679,937,000 after buying an additional 13,136,502 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock worth $1,405,003,000 after buying an additional 3,203,177 shares in the last quarter. Finally, Lone Pine Capital LLC boosted its position in shares of Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock worth $1,010,475,000 after buying an additional 6,309,324 shares in the last quarter. 62.04% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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