Jefferies Group set a $65.00 target price on Nike Inc. (NYSE:NKE) in a research note issued to investors on Wednesday morning. The brokerage currently has a a buy rating on the footwear maker’s stock.
Other analysts have also issued reports about the company. B. Riley restated a buy rating and issued a $66.00 price target on shares of Nike in a report on Wednesday, June 22nd. Deutsche Bank AG restated a buy rating on shares of Nike in a report on Sunday, July 17th. Canaccord Genuity restated a neutral rating and issued a $56.00 price target (down from $57.00) on shares of Nike in a report on Wednesday, June 29th. BB&T Corp. restated a buy rating and issued a $70.00 price target (down from $74.00) on shares of Nike in a report on Tuesday, June 21st. Finally, Citigroup Inc. restated a buy rating and issued a $61.00 price target (down from $75.00) on shares of Nike in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $64.54.
Shares of 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. The firm has a 50-day moving average price of $56.40 and a 200-day moving average price of $57.06. Nike has a 12-month low of $51.48 and a 12-month high of $68.19.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. The company had revenue of $9.06 billion for the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm 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 declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s payout ratio is 28.83%.
In other news, Director John C. Lechleiter purchased 1,000 shares of the company’s stock in a transaction dated Friday, September 30th. The stock was bought at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the purchase, the director now owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $56.99, for a total value 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 $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CapWealth Advisors LLC boosted its position in shares of Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares during the last quarter. Brick & Kyle Associates boosted its position in shares of Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock worth $111,000 after buying an additional 200 shares during the last quarter. SevenBridge Financial Group LLC purchased a new position in shares of Nike during the second quarter worth approximately $100,000. Cribstone Capital Management LLC purchased a new position in shares of Nike during the second quarter worth approximately $106,000. Finally, Gierl Augustine Investment Management Inc boosted its position in shares of Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares during the last quarter. 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.
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.