Nike Inc. (NYSE:NKE)‘s stock had its “overweight” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday. They currently have a $62.00 price target on the footwear maker’s stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 16.43% from the company’s current price.
NKE has been the topic of a number of other reports. Deutsche Bank AG reiterated a “buy” rating and issued a $75.00 price target on shares of Nike in a research report on Sunday. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a report on Friday, September 16th. Morgan Stanley restated a “hold” rating and set a $60.00 target price on shares of Nike in a report on Wednesday, September 21st. Cowen and Company set a $63.00 target price on Nike and gave the stock a “buy” rating in a report on Tuesday, September 13th. Finally, Jefferies Group restated a “buy” rating on shares of Nike in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $64.35.
Shares of Nike (NYSE:NKE) opened at 53.25 on Tuesday. Nike has a 1-year low of $51.48 and a 1-year high of $68.19. The firm’s 50 day moving average is $56.71 and its 200 day moving average is $57.30. The firm has a market capitalization of $89.33 billion, a PE ratio of 24.65 and a beta of 0.52.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. Nike had a return on equity of 30.27% and a net margin of 11.60%. The firm had revenue of $9.06 billion for the quarter. During the same quarter last year, the company earned $1.34 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Analysts anticipate that Nike will post $2.40 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.20%. Nike’s dividend payout ratio (DPR) is currently 28.83%.
In other news, EVP John F. Slusher sold 72,696 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hilary K. Krane sold 100,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Capstone Asset Management Co. boosted its position in Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock worth $21,220,000 after buying an additional 29,538 shares during the period. National Pension Service boosted its position in Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock worth $43,599,000 after buying an additional 27,918 shares during the period. Gofen & Glossberg LLC IL boosted its position in Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock worth $16,806,000 after buying an additional 2,890 shares during the period. AMP Capital Investors Ltd acquired a new position in Nike during the first quarter worth approximately $37,460,000. Finally, Bath Savings Trust Co boosted its position in Nike by 2.8% in the second quarter. Bath Savings Trust Co now owns 202,524 shares of the footwear maker’s stock worth $11,179,000 after buying an additional 5,515 shares during the period. 62.04% of the stock is owned by institutional investors.
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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