Nike (NKE) Earns “Buy” Rating from Robert W. Baird

Robert W. Baird reissued their buy rating on shares of Nike (NYSE:NKE) in a research note issued to investors on Friday. The brokerage currently has a $78.00 price target on the footwear maker’s stock.

Several other research firms also recently commented on NKE. Jefferies Group set a $68.00 price objective on Nike and gave the stock a neutral rating in a research note on Friday. Macquarie reaffirmed a buy rating and issued a $80.00 price objective on shares of Nike in a research note on Friday. Deutsche Bank raised their price objective on Nike from $75.00 to $76.00 and gave the stock a buy rating in a research note on Friday. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $58.00 price objective on shares of Nike in a research note on Friday. Finally, Credit Suisse Group reaffirmed a buy rating and issued a $78.00 price objective on shares of Nike in a research note on Friday. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $68.07.

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Nike (NYSE:NKE) opened at $64.63 on Friday. Nike has a 1-year low of $50.35 and a 1-year high of $70.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. The firm has a market capitalization of $105,149.06, a PE ratio of 60.97, a price-to-earnings-growth ratio of 2.93 and a beta of 0.68.

Nike (NYSE:NKE) last posted its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.15. Nike had a return on equity of 31.81% and a net margin of 5.11%. The company had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $8.85 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. Nike’s revenue was up 6.5% on a year-over-year basis. equities research analysts forecast that Nike will post 2.29 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s dividend payout ratio is presently 75.47%.

In other Nike news, COO Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the transaction, the chief operating officer now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The disclosure for this sale can be found here. Insiders have sold a total of 912,802 shares of company stock valued at $58,993,107 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wagner Wealth Management LLC purchased a new position in shares of Nike in the 4th quarter worth approximately $103,000. D.B. Root & Company LLC purchased a new position in shares of Nike in the 4th quarter worth approximately $572,000. Rehmann Capital Advisory Group boosted its holdings in shares of Nike by 16.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 8,409 shares of the footwear maker’s stock worth $526,000 after purchasing an additional 1,185 shares during the period. KCM Investment Advisors LLC boosted its holdings in shares of Nike by 0.9% in the 4th quarter. KCM Investment Advisors LLC now owns 178,275 shares of the footwear maker’s stock worth $11,151,000 after purchasing an additional 1,506 shares during the period. Finally, Colonial Trust Advisors boosted its holdings in shares of Nike by 22.5% in the 4th quarter. Colonial Trust Advisors now owns 170,288 shares of the footwear maker’s stock worth $10,652,000 after purchasing an additional 31,310 shares during the period. Institutional investors and hedge funds own 65.65% of the company’s stock.

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Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

Analyst Recommendations for Nike (NYSE:NKE)

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