Nike Inc. (NYSE:NKE) Director John C. Lechleiter acquired 1,000 shares of Nike stock in a transaction that occurred on Friday, September 30th. The shares were purchased at an average price of $52.72 per share, with a total value of $52,720.00. Following the transaction, the director now owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Nike Inc. (NYSE:NKE) opened at 52.03 on Friday. The stock has a market capitalization of $86.99 billion, a P/E ratio of 23.48 and a beta of 0.56. Nike Inc. has a one year low of $51.48 and a one year high of $68.19. The stock has a 50 day moving average price of $56.00 and a 200-day moving average price of $56.91.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The business 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 company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 earnings per share. Analysts anticipate that Nike Inc. will post $2.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Thursday, September 1st. Nike’s dividend payout ratio is currently 28.83%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. SevenBridge Financial Group LLC acquired a new position in Nike during the second quarter worth approximately $100,000. CapWealth Advisors LLC boosted its position in 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 in the last quarter. Cribstone Capital Management LLC acquired a new position in Nike during the second quarter worth approximately $106,000. Brick & Kyle Associates boosted its position in 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 in the last quarter. Finally, Gierl Augustine Investment Management Inc boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 62.04% of the company’s stock.
A number of analysts recently commented on NKE shares. Brean Capital reduced their price objective on Nike from $68.00 to $62.00 in a research report on Wednesday, June 29th. Vetr cut Nike from a “strong-buy” rating to a “buy” rating and set a $61.63 price objective for the company. in a research report on Monday, June 13th. B. Riley restated a “buy” rating and issued a $66.00 price target on shares of Nike in a research report on Wednesday, June 22nd. BB&T Corp. restated a “buy” rating and issued a $70.00 price target (down previously from $74.00) on shares of Nike in a research report on Tuesday, June 21st. Finally, Buckingham Research restated a “buy” rating and issued a $70.00 price target on shares of Nike in a research report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $64.54.
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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