Several other research firms have also issued reports on NKE. Zacks Investment Research upgraded shares of Nike from a sell rating to a hold rating in a research report on Wednesday, August 24th. B. Riley lowered shares of Nike from a buy rating to a neutral rating and increased their price target for the stock from $58.66 to $62.00 in a research report on Friday, August 26th. Stifel Nicolaus reiterated a buy rating and set a $68.00 price target on shares of Nike in a research report on Friday, August 26th. Brean Capital reiterated a buy rating and set a $62.00 price target on shares of Nike in a research report on Sunday, August 21st. Finally, Vetr upgraded shares of Nike from a sell rating to a hold rating and set a $56.94 price target on the stock in a research report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $64.35.
Nike (NYSE:NKE) traded down 0.009% during midday trading on Wednesday, reaching $53.245. The company’s stock had a trading volume of 5,313,069 shares. The firm has a market cap of $89.32 billion, a P/E ratio of 24.650 and a beta of 0.52. The firm has a 50 day moving average price of $56.71 and a 200-day moving average price of $57.30. Nike has a 52 week low of $51.48 and a 52 week high of $68.20.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The business 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%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.34 EPS. On average, analysts forecast that Nike will post $2.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis 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 John F. Slusher sold 72,696 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the sale, the executive vice president now directly owns 310,795 shares in the company, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Capstone Asset Management Co. raised its stake in Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock worth $21,220,000 after buying an additional 29,538 shares during the period. National Pension Service boosted its position in Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock worth $43,599,000 after buying an additional 27,918 shares in the last quarter. Gofen & Glossberg LLC IL boosted its position in Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock worth $16,806,000 after buying an additional 2,890 shares in the last quarter. AMP Capital Investors Ltd bought a new position in Nike during the first quarter worth approximately $37,460,000. Finally, Bath Savings Trust Co boosted its position in Nike by 2.8% in the second quarter. Bath Savings Trust Co now owns 202,524 shares of the footwear maker’s stock worth $11,179,000 after buying an additional 5,515 shares in the last quarter. 62.04% of the stock is currently owned by institutional investors and hedge funds.
Nike Company Profile
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.
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.