Nike Inc. (NYSE:NKE) had its price target upped by Citigroup Inc. from $61.00 to $64.00 in a research note issued to investors on Wednesday morning. Citigroup Inc. currently has a buy rating on the footwear maker’s stock.
NKE has been the subject of several other reports. Deutsche Bank AG reiterated a buy rating and issued a $75.00 price target on shares of Nike in a research note on Sunday, September 25th. Zacks Investment Research upgraded Nike from a sell rating to a hold rating in a research note on Friday, September 16th. Morgan Stanley restated a hold rating and set 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 stock a buy rating in a research note on Tuesday, September 13th. Finally, Jefferies Group restated a buy rating on shares of Nike in a research note on Monday, September 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $64.54.
Shares of Nike (NYSE:NKE) opened at 52.67 on Wednesday. The stock has a 50 day moving average price of $56.40 and a 200 day moving average price of $57.06. Nike has a 1-year low of $51.48 and a 1-year high of $68.19. The firm has a market capitalization of $88.06 billion, a PE ratio of 23.77 and a beta of 0.56.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.17. The business earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 earnings per share. Equities research analysts anticipate that Nike will post $2.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. Nike’s payout ratio is currently 28.83%.
In related news, Director John C. Lechleiter purchased 1,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was bought at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the purchase, the director now directly owns 27,560 shares in the company, valued at approximately $1,452,963.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 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.
Several large investors have recently modified their holdings of NKE. Gierl Augustine Investment Management Inc raised its stake 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 valued at $111,000 after buying an additional 6 shares during the last quarter. CWM LLC raised its position in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares in the last quarter. CHICAGO TRUST Co NA raised its position in Nike by 0.3% in the second quarter. CHICAGO TRUST Co NA now owns 14,656 shares of the footwear maker’s stock worth $809,000 after buying an additional 38 shares in the last quarter. Mission Wealth Management LLC raised its position in Nike by 1.1% in the second quarter. Mission Wealth Management LLC now owns 4,544 shares of the footwear maker’s stock worth $251,000 after buying an additional 50 shares in the last quarter. Finally, TRUE Private Wealth Advisors raised its position in Nike by 0.3% in the second quarter. TRUE Private Wealth Advisors now owns 15,891 shares of the footwear maker’s stock worth $877,000 after buying an additional 53 shares in 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.
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