JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Nike Inc. (NYSE:NKE) in a report issued on Tuesday morning. JPMorgan Chase & Co. currently has a $62.00 price objective on the footwear maker’s stock.
NKE has been the subject of several other reports. Zacks Investment Research upgraded Nike from a sell rating to a hold rating in a report on Wednesday, August 24th. B. Riley lowered Nike from a buy rating to a neutral rating and lifted their price target for the company from $58.66 to $62.00 in a report on Friday, August 26th. Stifel Nicolaus reiterated a buy rating and set a $68.00 price target on shares of Nike in a report on Friday, August 26th. Brean Capital reiterated a buy rating and set a $62.00 price target on shares of Nike in a report on Sunday, August 21st. Finally, Vetr upgraded Nike from a sell rating to a hold rating and set a $56.94 price target for the company in a 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 issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $64.35.
Shares of Nike (NYSE:NKE) opened at 52.16 on Tuesday. Nike has a 52-week low of $51.48 and a 52-week high of $68.19. The firm has a market cap of $87.50 billion, a P/E ratio of 24.15 and a beta of 0.52. The stock’s 50 day moving average is $56.63 and its 200-day moving average is $57.26.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The company had revenue of $9.06 billion for the quarter. During the same period last year, the firm earned $1.34 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Nike will post $2.38 earnings per share for the current fiscal year.
The company 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 dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. Nike’s payout ratio is presently 28.83%.
In related news, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction dated 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 completion of 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 filing with the SEC, which can be accessed through this link. Also, EVP John F. Slusher sold 72,696 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total value of $4,198,194.00. Following the transaction, the executive vice president now owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NKE. SevenBridge Financial Group LLC purchased a new position in Nike during the second quarter worth about $100,000. CapWealth Advisors LLC increased its position in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares in the last quarter. Cribstone Capital Management LLC bought a new position in Nike during the second quarter worth $106,000. Brick & Kyle Associates increased its position in Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock worth $111,000 after buying an additional 200 shares in the last quarter. Finally, Gierl Augustine Investment Management Inc increased 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. Institutional investors and hedge funds 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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