Shares of Nike Inc. (NYSE:NKE) have received a consensus recommendation of “Buy” from the thirty-three research firms that are currently covering the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $64.06.
NKE has been the subject of a number of research reports. Deutsche Bank AG restated a “buy” rating and set a $75.00 target price on shares of Nike in a research report on Sunday, September 25th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research report on Friday, September 16th. Morgan Stanley restated a “hold” rating and set a $60.00 target price on shares of Nike in a research report on Wednesday, September 21st. Cowen and Company set a $63.00 target price on shares of Nike and gave the company a “buy” rating in a research report on Tuesday, September 13th. Finally, Jefferies Group restated a “buy” rating on shares of Nike in a research report on Monday, September 12th.
Nike (NYSE:NKE) opened at 51.79 on Tuesday. The firm’s 50 day moving average is $55.84 and its 200 day moving average is $56.82. Nike has a 12-month low of $51.48 and a 12-month high of $68.19. The company has a market cap of $86.59 billion, a P/E ratio of 23.37 and a beta of 0.56.
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. The company earned $9.06 billion during the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. 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. Equities research analysts anticipate that Nike will post $2.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s dividend payout ratio is presently 28.83%.
In related news, Director John C. Lechleiter bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The shares were purchased at an average cost of $52.72 per share, with a total value of $52,720.00. Following the transaction, the director now directly 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 SEC, which is available at the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the completion of the transaction, the executive vice president now directly owns 231,861 shares in the company, valued at $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Nike by 0.4% in the second quarter. Vanguard Group Inc. now owns 89,158,174 shares of the footwear maker’s stock worth $4,921,530,000 after buying an additional 366,833 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock worth $2,265,096,000 after buying an additional 204,944 shares during the period. Wellington Management Group LLP increased its position in Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock worth $1,679,937,000 after buying an additional 13,136,502 shares during the period. Janus Capital Management LLC increased its position in Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock worth $1,405,003,000 after buying an additional 3,203,177 shares during the period. Finally, Lone Pine Capital LLC increased its position in Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock worth $1,010,475,000 after buying an additional 6,309,324 shares during the period. 62.04% of the stock is currently 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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