Nike Inc. (NYSE:NKE)‘s stock had its “hold” rating reissued by Wells Fargo & Co. in a research report issued on Thursday.
Several other research analysts have also recently weighed in on NKE. Vetr cut shares of Nike from a “strong-buy” rating to a “buy” rating and set a $61.63 price target on the stock. in a research report on Monday, June 13th. Zacks Investment Research cut shares of Nike from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. OTR Global cut shares of Nike to a “positive” rating in a research report on Thursday, June 16th. Brean Capital reissued a “buy” rating on shares of Nike in a research report on Thursday, June 16th. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $68.00 price target on shares of Nike in a research report on Thursday, June 16th. One research 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 an average rating of “Buy” and a consensus price target of $64.54.
Nike (NYSE:NKE) opened at 52.12 on Thursday. The firm’s 50-day moving average is $56.14 and its 200-day moving average is $56.95. Nike has a 52-week low of $51.48 and a 52-week high of $68.19. The stock has a market cap of $87.14 billion, a P/E ratio of 23.52 and a beta of 0.56.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $9.06 billion during the quarter. During the same period in the previous year, the company earned $1.34 EPS. Nike’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that Nike will post $2.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Thursday, September 1st. Nike’s payout ratio is currently 28.83%.
In related news, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John C. Lechleiter purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The shares were bought at an average cost of $52.72 per share, with a total value of $52,720.00. Following the completion of the acquisition, the director now owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is owned by insiders.
Several large investors have recently modified their holdings of NKE. SevenBridge Financial Group LLC bought a new stake in shares of Nike during the second quarter valued at $100,000. CapWealth Advisors LLC increased its stake 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 valued at $104,000 after buying an additional 1,100 shares in the last quarter. Cribstone Capital Management LLC bought a new stake in shares of Nike during the second quarter valued at $106,000. Brick & Kyle Associates increased its stake 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 valued at $111,000 after buying an additional 200 shares in the last quarter. Finally, Gierl Augustine Investment Management Inc increased 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 in the last quarter. 62.04% of the stock is owned by hedge funds and other institutional investors.
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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