Nike Inc. (NYSE:NKE) announced its quarterly earnings results on Tuesday. 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 net margin of 11.61% and a return on equity of 29.57%. The business earned $9.06 billion during the quarter. During the same quarter in the prior year, the business earned $1.34 earnings per share. Nike’s revenue was up 7.7% on a year-over-year basis.
Nike (NYSE:NKE) opened at 53.25 on Thursday. Nike has a one year low of $51.48 and a one year high of $68.19. The stock’s 50 day moving average is $56.71 and its 200 day moving average is $57.30. The stock has a market capitalization of $89.33 billion, a price-to-earnings ratio of 24.65 and a beta of 0.52.
The business also recently disclosed 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 annualized dividend and a dividend yield of 1.20%. Nike’s payout ratio is currently 29.63%.
NKE has been the subject of a number of recent analyst reports. B. Riley reiterated a “buy” rating and set a $66.00 price target on shares of Nike in a research report on Monday, June 27th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Susquehanna reiterated a “positive” rating and set a $74.00 price target on shares of Nike in a research report on Wednesday, June 22nd. Cowen and Company reiterated a “buy” rating on shares of Nike in a research report on Wednesday, June 22nd. Finally, FBR & Co dropped their price target on shares of Nike from $63.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Nike currently has an average rating of “Buy” and an average price target of $64.35.
In other Nike news, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction on Friday, July 1st. The shares were bought at an average price of $55.09 per share, with a total value of $55,090.00. Following the purchase, the director now directly owns 23,682 shares in the company, valued at approximately $1,304,641.38. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction dated 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 transaction, the executive vice president now directly owns 231,861 shares in the company, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Duncker Streett & Co. Inc. boosted its position in Nike by 3.6% in the first quarter. Duncker Streett & Co. Inc. now owns 54,284 shares of the footwear maker’s stock valued at $3,337,000 after buying an additional 1,900 shares during the period. Douglas Lane & Associates LLC acquired a new position in Nike during the first quarter valued at $478,000. ST Germain D J Co. Inc. boosted its position in Nike by 21.6% in the first quarter. ST Germain D J Co. Inc. now owns 9,530 shares of the footwear maker’s stock valued at $586,000 after buying an additional 1,690 shares during the period. OLD National Bancorp IN boosted its position in Nike by 5.1% in the first quarter. OLD National Bancorp IN now owns 37,850 shares of the footwear maker’s stock valued at $2,327,000 after buying an additional 1,848 shares during the period. Finally, Windward Capital Management Co. CA boosted its position in Nike by 1.7% in the first quarter. Windward Capital Management Co. CA now owns 406,958 shares of the footwear maker’s stock valued at $25,016,000 after buying an additional 6,936 shares during the period. 62.04% of the stock is currently owned by institutional investors.
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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