Nike Inc. (NYSE:NKE) had its target price cut by Canaccord Genuity from $52.00 to $51.00 in a research report sent to investors on Thursday. They currently have a hold rating on the footwear maker’s stock.
Several other research analysts have also commented on NKE. Wells Fargo & Co. restated a hold rating and set a $60.00 price target on shares of Nike in a research report on Wednesday, June 15th. OTR Global lowered Nike to a positive rating in a research report on Thursday, June 16th. Brean Capital restated a buy rating on shares of Nike in a research report on Thursday, June 16th. Credit Suisse Group AG restated a buy rating and set a $68.00 price target on shares of Nike in a research report on Thursday, June 16th. Finally, Piper Jaffray Cos. restated an overweight rating and set a $69.00 price target on shares of Nike in a research report on Monday, June 20th. One research 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 stock. The company has a consensus rating of Buy and an average target price of $63.99.
Shares of Nike (NYSE:NKE) traded down 0.04% on Thursday, reaching $52.01. The company had a trading volume of 2,869,176 shares. The firm’s 50 day moving average is $55.01 and its 200 day moving average is $56.55. Nike has a 12 month low of $51.48 and a 12 month high of $68.19. The firm has a market capitalization of $86.96 billion, a PE ratio of 23.47 and a beta of 0.56.
Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.17. The company 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 revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. On average, equities research analysts expect that Nike will post $2.38 earnings per share for the current fiscal year.
The business also recently disclosed 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 1.23%. Nike’s dividend payout ratio is presently 28.83%.
In other news, EVP Hilary K. Krane sold 100,000 shares of the business’s stock in a transaction on Monday, July 25th. The shares were 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 approximately $17,712,207.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Lechleiter acquired 1,000 shares of the stock in a transaction dated 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 purchase, the director now directly owns 27,560 shares in the company, valued at $1,452,963.20. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. National Pension Service boosted its stake in shares of Nike by 8.7% in the third quarter. National Pension Service now owns 862,938 shares of the footwear maker’s stock valued at $45,434,000 after buying an additional 68,878 shares in the last quarter. Community Bank N.A. boosted its stake in shares of Nike by 18.3% in the third quarter. Community Bank N.A. now owns 21,080 shares of the footwear maker’s stock valued at $1,110,000 after buying an additional 3,260 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of Nike during the third quarter valued at about $268,000. Highland Capital Management LLC bought a new stake in shares of Nike during the third quarter valued at about $859,000. Finally, Orrstown Financial Services Inc. boosted its stake in shares of Nike by 6.7% in the third quarter. Orrstown Financial Services Inc. now owns 15,212 shares of the footwear maker’s stock valued at $801,000 after buying an additional 957 shares in the last quarter. 62.04% of the stock is owned by institutional investors.
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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