Canaccord Genuity reiterated their hold rating on shares of Nike Inc. (NYSE:NKE) in a report released on Thursday, StockTargetPrices.com reports. Canaccord Genuity currently has a $52.00 price target on the footwear maker’s stock.
Several other equities analysts have also commented on NKE. B. Riley reaffirmed a buy rating and issued a $66.00 price target on shares of Nike in a research note on Monday, June 27th. Deutsche Bank AG reaffirmed a buy rating on shares of Nike in a research note on Sunday, July 17th. Vetr raised Nike from a sell rating to a hold rating and set a $54.01 price target on the stock in a research note on Wednesday, August 3rd. Robert W. Baird reaffirmed an outperform rating and issued a $67.00 price target on shares of Nike in a research note on Wednesday. Finally, Piper Jaffray Cos. set a $58.00 price target on Nike and gave the company a hold rating in a research note on Thursday, September 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company. Nike has an average rating of Buy and a consensus price target of $64.35.
Shares of Nike (NYSE:NKE) traded up 0.98% during midday trading on Thursday, reaching $52.67. The company had a trading volume of 3,434,344 shares. The company’s 50 day moving average price is $56.63 and its 200-day moving average price is $57.26. The company has a market capitalization of $88.06 billion, a P/E ratio of 23.77 and a beta of 0.52. Nike has a 52 week low of $51.48 and a 52 week high of $68.19.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS 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 business had revenue of $9.06 billion for the quarter. During the same period last year, the company earned $1.34 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts predict that Nike will post $2.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued 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 1.23%. Nike’s dividend payout ratio is currently 28.83%.
In other news, EVP Hilary K. Krane sold 100,000 shares of the firm’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 completion of the sale, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John F. Slusher sold 72,696 shares of the firm’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 sale, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Gierl Augustine Investment Management Inc boosted its stake 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 valued at $111,000 after buying an additional 6 shares in the last quarter. CWM LLC boosted its stake in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock valued at $123,000 after buying an additional 7 shares in the last quarter. CHICAGO TRUST Co NA boosted its stake in Nike by 0.3% in the second quarter. CHICAGO TRUST Co NA now owns 14,656 shares of the footwear maker’s stock valued at $809,000 after buying an additional 38 shares in the last quarter. Mission Wealth Management LLC boosted its stake in Nike by 1.1% in the second quarter. Mission Wealth Management LLC now owns 4,544 shares of the footwear maker’s stock valued at $251,000 after buying an additional 50 shares in the last quarter. Finally, TRUE Private Wealth Advisors boosted its stake in Nike by 0.3% in the second quarter. TRUE Private Wealth Advisors now owns 15,891 shares of the footwear maker’s stock valued at $877,000 after buying an additional 53 shares in the last quarter. 62.04% of the stock is 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.
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