Nike Inc. (NYSE:NKE) had its price objective reduced by equities researchers at FBR & Co from $63.00 to $55.00 in a research note issued to investors on Wednesday. The brokerage presently has a “market perform” rating on the footwear maker’s stock. FBR & Co’s target price points to a potential upside of 5.44% from the company’s previous close.
Several other equities research analysts also recently weighed in on NKE. B. Riley reiterated a “buy” rating and issued a $66.00 price target on shares of Nike in a report on Monday, June 27th. Deutsche Bank AG reiterated a “buy” rating on shares of Nike in a report on Sunday, July 17th. Vetr upgraded Nike from a “sell” rating to a “hold” rating and set a $54.01 price target on the stock in a report on Wednesday, August 3rd. Piper Jaffray Cos. set a $58.00 price target on Nike and gave the stock a “hold” rating in a report on Thursday, September 22nd. Finally, Stifel Nicolaus reduced their price target on Nike from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $64.35.
Nike (NYSE:NKE) opened at 52.16 on Wednesday. The stock’s 50 day moving average price is $56.63 and its 200 day moving average price is $57.26. Nike has a 1-year low of $51.48 and a 1-year high of $68.19. The stock has a market capitalization of $87.50 billion, a PE ratio of 24.15 and a beta of 0.52.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.17. The business earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. Nike’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 earnings per share. On average, equities research analysts predict that Nike will post $2.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio is presently 28.83%.
In related news, 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 value of $5,699,000.00. Following the transaction, the executive vice president now directly owns 310,795 shares in the company, valued at $17,712,207.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $4,198,194.00. Following the completion of the transaction, the executive vice president now owns 231,861 shares in the company, valued at $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gierl Augustine Investment Management Inc boosted its position in Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares in the last quarter. CWM LLC boosted its position in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in Nike by 0.3% in the second quarter. CHICAGO TRUST Co NA now owns 14,656 shares of the footwear maker’s stock worth $809,000 after buying an additional 38 shares in the last quarter. Mission Wealth Management LLC boosted its position in Nike by 1.1% in the second quarter. Mission Wealth Management LLC now owns 4,544 shares of the footwear maker’s stock worth $251,000 after buying an additional 50 shares in the last quarter. Finally, TRUE Private Wealth Advisors boosted its position in Nike by 0.3% in the second quarter. TRUE Private Wealth Advisors now owns 15,891 shares of the footwear maker’s stock worth $877,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 62.04% of the company’s stock.
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.
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