NKE has been the subject of a number of other reports. Deutsche Bank AG reissued a buy rating and issued a $75.00 target price on shares of Nike in a research note on Sunday, September 25th. Zacks Investment Research raised Nike from a sell rating to a hold rating in a research note on Friday, September 16th. Morgan Stanley reissued a hold rating and issued a $60.00 target price on shares of Nike in a research note on Wednesday, September 21st. Cowen and Company set a $63.00 target price on Nike and gave the company a buy rating in a research note on Tuesday, September 13th. Finally, Jefferies Group reissued a buy rating on shares of Nike in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $64.54.
Nike (NYSE:NKE) opened at 52.67 on Wednesday. The firm has a market cap of $88.06 billion, a price-to-earnings ratio of 23.77 and a beta of 0.56. Nike has a one year low of $51.48 and a one year high of $68.19. The stock’s 50 day moving average price is $56.40 and its 200-day moving average price is $57.06.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm earned $9.06 billion during the quarter. During the same period in the previous year, the firm posted $1.34 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that Nike will post $2.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. Nike’s payout ratio is currently 28.83%.
In other Nike news, 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 transaction of $4,198,194.00. Following the completion of the sale, the executive vice president now directly owns 231,861 shares in the company, valued at approximately $13,389,972.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $5,699,000.00. Following the sale, the executive vice president now owns 310,795 shares of the company’s stock, 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 modified their holdings of the company. RKL Wealth Management LLC increased its stake in shares of Nike by 0.7% in the first quarter. RKL Wealth Management LLC now owns 87,744 shares of the footwear maker’s stock worth $5,394,000 after buying an additional 614 shares during the last quarter. St. Johns Investment Management Company LLC increased its stake in shares of Nike by 1.8% in the first quarter. St. Johns Investment Management Company LLC now owns 17,444 shares of the footwear maker’s stock worth $1,072,000 after buying an additional 302 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in shares of Nike by 33.9% in the first quarter. Chesley Taft & Associates LLC now owns 118,979 shares of the footwear maker’s stock worth $7,314,000 after buying an additional 30,145 shares during the last quarter. IMS Capital Management increased its stake in shares of Nike by 12.9% in the first quarter. IMS Capital Management now owns 5,983 shares of the footwear maker’s stock worth $368,000 after buying an additional 685 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of Nike by 9.9% in the first quarter. DAVENPORT & Co LLC now owns 16,390 shares of the footwear maker’s stock worth $1,007,000 after buying an additional 1,471 shares during the last quarter. Hedge funds and other institutional investors 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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