NKE has been the subject of a number of other reports. Deutsche Bank AG reissued a buy rating and issued a $75.00 price target on shares of Nike in a report on Sunday, September 25th. Zacks Investment Research raised Nike from a sell rating to a hold rating in a research note on Friday, September 16th. Morgan Stanley reaffirmed a hold rating and set a $60.00 target price on shares of Nike in a research note on Wednesday, September 21st. Cowen and Company set a $63.00 target price on Nike and gave the stock a buy rating in a research note on Tuesday, September 13th. Finally, Jefferies Group reaffirmed a buy rating on shares of Nike in a research note on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Nike has a consensus rating of Buy and an average target price of $64.54.
Nike (NYSE:NKE) opened at 52.65 on Wednesday. The stock has a market capitalization of $88.03 billion, a price-to-earnings ratio of 23.76 and a beta of 0.56. Nike has a 12-month low of $51.48 and a 12-month high of $68.19. The company has a 50 day moving average of $56.51 and a 200-day moving average of $57.20.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating 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 company earned $9.06 billion during the quarter. During the same period in the previous year, the firm posted $1.34 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that Nike will post $2.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Nike’s dividend payout ratio (DPR) is presently 28.83%.
In related news, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the sale, the executive vice president now directly owns 310,795 shares in the company, valued at $17,712,207.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total value of $4,198,194.00. Following the completion of the sale, the executive vice president now 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 owned by corporate insiders.
Several hedge funds have recently bought and sold shares of NKE. CapWealth Advisors LLC increased its stake in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares during the period. Brick & Kyle Associates increased its stake in Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock worth $111,000 after buying an additional 200 shares during the period. SevenBridge Financial Group LLC acquired a new stake in Nike during the second quarter worth $100,000. Cribstone Capital Management LLC acquired a new stake in Nike during the second quarter worth $106,000. Finally, Gierl Augustine Investment Management Inc increased its stake 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 worth $111,000 after buying an additional 6 shares during the period. Hedge funds and other institutional investors own 62.04% 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.
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