Nike Inc. (NYSE:NKE) had its price target lowered by Barclays PLC from $70.00 to $65.00 in a research note issued to investors on Wednesday. The brokerage currently has an overweight rating on the footwear maker’s stock.
Several other research firms have also recently weighed in on NKE. B. Riley reissued a buy rating and issued a $66.00 price objective on shares of Nike in a research report on Monday, June 27th. Zacks Investment Research upgraded Nike from a sell rating to a hold rating in a research note on Thursday, September 22nd. Susquehanna restated a positive rating and issued a $74.00 target price on shares of Nike in a research note on Wednesday, June 22nd. Cowen and Company restated a buy rating on shares of Nike in a research note on Wednesday, June 22nd. Finally, Piper Jaffray Cos. restated an overweight rating and issued a $58.00 target price (down from $69.00) on shares of Nike in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. Nike currently has an average rating of Buy and a consensus target price of $64.54.
Shares of Nike (NYSE:NKE) opened at 52.65 on Wednesday. The firm has a market capitalization of $88.03 billion, a price-to-earnings ratio of 23.76 and a beta of 0.56. Nike has a 12-month low of $51.48 and a 12-month high of $68.19. The stock’s 50 day moving average price is $56.51 and its 200 day moving average price is $57.20.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping 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 in the prior year, the firm posted $1.34 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts expect that Nike will post $2.38 earnings per share for the current year.
The firm 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. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.22%. Nike’s dividend payout ratio is 28.83%.
In other news, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction 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 approximately $17,712,207.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction on 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 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. Company insiders own 3.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Nike by 0.4% in the second quarter. Vanguard Group Inc. now owns 89,158,174 shares of the footwear maker’s stock worth $4,921,530,000 after buying an additional 366,833 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock worth $2,265,096,000 after buying an additional 204,944 shares during the period. Wellington Management Group LLP increased its position in Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock worth $1,679,937,000 after buying an additional 13,136,502 shares during the period. Janus Capital Management LLC increased its position in Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock worth $1,405,003,000 after buying an additional 3,203,177 shares during the period. Finally, Lone Pine Capital LLC increased its position in Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock worth $1,010,475,000 after buying an additional 6,309,324 shares during the period. Hedge funds and other 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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