Nike (NKE) Stock Rating Reaffirmed by Credit Suisse Group

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Credit Suisse Group restated their buy rating on shares of Nike (NYSE:NKE) in a report published on Friday morning. Credit Suisse Group currently has a $97.00 price target on the footwear maker’s stock.

Several other equities analysts have also recently weighed in on the stock. Morgan Stanley set a $103.00 price target on shares of Nike and gave the stock a buy rating in a research note on Tuesday, December 11th. Bank of America set a $55.00 price target on shares of Nike and gave the stock a sell rating in a research note on Sunday, December 30th. JPMorgan Chase & Co. reaffirmed a buy rating and set a $85.00 price target on shares of Nike in a research note on Thursday, December 27th. Robert W. Baird cut shares of Nike from an outperform rating to a neutral rating and set a $76.62 price target for the company. in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Goldman Sachs Group set a $84.00 price target on shares of Nike and gave the stock a hold rating in a research note on Sunday, December 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. Nike has an average rating of Buy and a consensus target price of $86.93.

Shares of NKE opened at $82.33 on Friday. The company has a market cap of $129.35 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. Nike has a twelve month low of $63.21 and a twelve month high of $88.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43.

Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. The company had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. As a group, sell-side analysts expect that Nike will post 2.59 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, March 1st. Nike’s dividend payout ratio is 36.36%.

In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the completion of the sale, the chairman now owns 1,687,863 shares of the company’s stock, valued at approximately $124,361,745.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 200,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total value of $14,810,000.00. Following the sale, the executive vice president now directly owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. Insiders have sold a total of 816,500 shares of company stock valued at $63,317,465 in the last ninety days. Insiders own 3.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in NKE. Oppenheimer & Co. Inc. lifted its holdings in shares of Nike by 14.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 47,918 shares of the footwear maker’s stock worth $3,552,000 after buying an additional 6,157 shares in the last quarter. Brinker Capital Inc. lifted its holdings in shares of Nike by 4.1% during the fourth quarter. Brinker Capital Inc. now owns 85,941 shares of the footwear maker’s stock worth $6,375,000 after buying an additional 3,400 shares in the last quarter. ETRADE Capital Management LLC lifted its holdings in shares of Nike by 11.8% during the fourth quarter. ETRADE Capital Management LLC now owns 11,907 shares of the footwear maker’s stock worth $883,000 after buying an additional 1,259 shares in the last quarter. Peregrine Capital Management LLC lifted its holdings in shares of Nike by 2.5% during the fourth quarter. Peregrine Capital Management LLC now owns 228,756 shares of the footwear maker’s stock worth $16,960,000 after buying an additional 5,578 shares in the last quarter. Finally, TRUE Private Wealth Advisors lifted its holdings in shares of Nike by 7.7% during the fourth quarter. TRUE Private Wealth Advisors now owns 29,731 shares of the footwear maker’s stock worth $2,210,000 after buying an additional 2,131 shares in the last quarter. 65.56% of the stock is owned by institutional investors and hedge funds.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Analyst Recommendations for Nike (NYSE:NKE)

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