Research analysts at Guggenheim began coverage on shares of Nike Inc. (NYSE:NKE) in a research note issued to investors on Friday. The brokerage set a “buy” rating and a $70.00 price target on the footwear maker’s stock. Guggenheim’s price target would indicate a potential upside of 32.90% from the company’s current price.
Several other research firms have also recently commented on NKE. B. Riley restated a “buy” rating and issued a $66.00 target price on shares of Nike in a research note on Monday, June 27th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Susquehanna reiterated a “positive” rating and issued a $74.00 price objective on shares of Nike in a research note on Wednesday, June 22nd. Cowen and Company reiterated a “buy” rating on shares of Nike in a research note on Wednesday, June 22nd. Finally, FBR & Co reduced their price objective on shares of Nike from $63.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. Nike presently has a consensus rating of “Buy” and an average price target of $64.54.
Shares of Nike (NYSE:NKE) opened at 52.67 on Friday. The stock has a 50 day moving average of $56.40 and a 200 day moving average of $57.06. Nike has a 1-year low of $51.48 and a 1-year high of $68.19. The stock has a market cap of $88.06 billion, a PE ratio of 23.77 and a beta of 0.56.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company earned $9.06 billion during the quarter. During the same quarter last year, the business posted $1.34 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that Nike will post $2.38 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. Nike’s dividend payout ratio is currently 28.83%.
In related news, Director John C. Lechleiter bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was purchased at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the transaction, the director now directly owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction dated Monday, July 25th. The shares were 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 owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Capstone Asset Management Co. raised its position in shares of 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 in the last quarter. National Pension Service raised its position in shares of 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 in the last quarter. Gofen & Glossberg LLC IL raised its position in shares of 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 in the last quarter. AMP Capital Investors Ltd bought a new position in shares of Nike during the first quarter worth about $37,460,000. Finally, Dividend Assets Capital LLC raised its position in shares of Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock worth $94,538,000 after buying an additional 43,935 shares in the last quarter. 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.
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.