Nike Inc. (NYSE:NKE) had its price objective decreased by Telsey Advisory Group from $69.00 to $67.00 in a research report report published on Wednesday morning. Telsey Advisory Group currently has an outperform rating on the footwear maker’s stock.
NKE has been the subject of several other reports. Vetr cut shares of Nike from a hold rating to a sell rating and set a $54.86 price target for the company. in a report on Monday, July 11th. Barclays PLC set a $70.00 price target on shares of Nike and gave the stock a buy rating in a report on Monday, September 12th. Citigroup Inc. upped their target price on shares of Nike from $61.00 to $64.00 and gave the stock a buy rating in a research report on Wednesday, September 28th. B. Riley restated a neutral rating and set a $55.00 target price (down from $62.00) on shares of Nike in a research report on Monday, September 26th. Finally, OTR Global lowered shares of Nike to a positive rating in a research report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $64.54.
Nike (NYSE:NKE) opened at 52.65 on Wednesday. Nike has a 1-year low of $51.48 and a 1-year high of $68.19. The firm has a 50-day moving average of $56.51 and a 200-day moving average of $57.20. The stock has a market capitalization of $88.03 billion, a price-to-earnings ratio of 23.76 and a beta of 0.56.
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 consensus estimate of $0.56 by $0.17. The firm earned $9.06 billion during the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.34 earnings per share. Equities research analysts anticipate that Nike will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s payout ratio is 28.83%.
In other Nike news, EVP John F. Slusher sold 72,696 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Hilary K. Krane sold 100,000 shares of the business’s 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 sale, the executive vice president now owns 310,795 shares in the company, valued at $17,712,207.05. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Capstone Asset Management Co. increased 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 increased its stake 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 during the period. Gofen & Glossberg LLC IL increased its stake 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 during the period. AMP Capital Investors Ltd bought a new stake in Nike during the first quarter worth approximately $37,460,000. Finally, Bath Savings Trust Co increased its stake 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 during the period. Institutional investors own 62.04% of the company’s stock.
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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