Nike Inc. (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by equities researchers at Citigroup Inc. in a note issued to investors on Thursday. They currently have a $61.00 target price on the footwear maker’s stock. Citigroup Inc.’s target price indicates a potential upside of 10.09% from the company’s previous close.
Several other equities analysts also recently commented on NKE. B. Riley reiterated a “buy” rating and set a $66.00 price target on shares of Nike in a report on Monday, June 27th. Deutsche Bank AG reiterated a “buy” rating on shares of Nike in a report on Sunday, July 17th. Vetr upgraded Nike from a “sell” rating to a “hold” rating and set a $54.01 price target on the stock in a report on Wednesday, August 3rd. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a report on Thursday. Finally, FBR & Co reiterated a “hold” rating on shares of Nike in a report on Thursday, June 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $65.63.
Nike (NYSE:NKE) traded up 0.13% during mid-day trading on Thursday, reaching $55.41. 8,051,818 shares of the company’s stock traded hands. The stock has a market capitalization of $92.96 billion, a PE ratio of 25.65 and a beta of 0.52. The firm’s 50-day moving average price is $56.82 and its 200 day moving average price is $57.46. Nike has a 12 month low of $51.48 and a 12 month high of $68.19.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 28th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. Nike had a return on equity of 29.57% and a net margin of 11.61%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.28 billion. During the same quarter last year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts predict that Nike will post $2.40 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s payout ratio is 29.63%.
In other Nike news, EVP John F. Slusher sold 72,696 shares of the business’s stock in a transaction that occurred 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 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 can be accessed through the SEC website. Also, Director John C. Lechleiter purchased 1,000 shares of the stock in a transaction on Friday, July 1st. The shares were bought at an average cost of $55.09 per share, for a total transaction of $55,090.00. Following the transaction, the director now directly owns 23,682 shares in the company, valued at $1,304,641.38. The disclosure for this purchase can be found here. 3.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Nike by 0.4% in the second quarter. Vanguard Group Inc. now owns 89,158,174 shares of the footwear maker’s stock valued at $4,921,530,000 after buying an additional 366,833 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock valued at $2,265,096,000 after buying an additional 204,944 shares during the period. Wellington Management Group LLP raised its position in Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares during the period. Janus Capital Management LLC raised its position in Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock valued at $1,405,003,000 after buying an additional 3,203,177 shares during the period. Finally, Lone Pine Capital LLC raised its position in Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock valued at $1,010,475,000 after buying an additional 6,309,324 shares during the period. 62.04% of the stock is currently owned by hedge funds and other 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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