Vetr upgraded shares of Nike Inc. (NYSE:NKE) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday. Vetr currently has $57.56 price target on the footwear maker’s stock.
NKE has been the topic of several other reports. Barclays PLC set a $70.00 target price on Nike and gave the company a buy rating in a research note on Monday, September 12th. Citigroup Inc. boosted their target price on Nike from $61.00 to $64.00 and gave the company a buy rating in a research note on Wednesday, September 28th. B. Riley reissued a neutral rating and set a $55.00 target price (down from $62.00) on shares of Nike in a research note on Monday, September 26th. Bank of America Corp. set a $55.00 target price on Nike and gave the company a hold rating in a research note on Wednesday, September 28th. Finally, Morgan Stanley reissued an equal weight rating and set a $60.00 target price on shares of Nike in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $63.97.
Nike (NYSE:NKE) opened at 51.22 on Tuesday. Nike has a one year low of $50.96 and a one year high of $68.19. The company has a 50 day moving average price of $54.35 and a 200-day moving average price of $56.26. The company has a market capitalization of $85.64 billion, a PE ratio of 23.11 and a beta of 0.56.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The business had revenue of $9.06 billion for the quarter. During the same period last year, the firm earned $1.34 earnings per share. Nike’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts expect that Nike will post $2.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, September 1st. Nike’s dividend payout ratio (DPR) is presently 28.83%.
In related news, Director John C. Lechleiter acquired 1,000 shares of the firm’s stock in a transaction on 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 completion of the purchase, the director now directly owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John F. Slusher sold 72,696 shares of the company’s 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 owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. SevenBridge Financial Group LLC bought a new position in Nike during the second quarter valued at about $100,000. CapWealth Advisors LLC increased 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 valued at $104,000 after buying an additional 1,100 shares in the last quarter. Cribstone Capital Management LLC bought a new position in Nike during the second quarter valued at about $106,000. Gierl Augustine Investment Management Inc increased 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 valued at $111,000 after buying an additional 6 shares in the last quarter. Finally, CWM LLC increased its position in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock valued at $123,000 after buying an additional 7 shares in the last quarter. Institutional investors own 62.08% 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.
To view Vetr’s full report, visit Vetr’s official website.
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