Goldman Sachs Group Inc. reissued their buy rating on shares of Nike Inc. (NYSE:NKE) in a research note published on Sunday morning. Goldman Sachs Group Inc. currently has a $66.00 price objective on the footwear maker’s stock.
NKE has been the topic of several other research reports. Vetr downgraded Nike from a hold rating to a sell rating and set a $54.86 target price on the stock. in a research report on Monday, July 11th. Barclays PLC set a $70.00 target price on Nike and gave the company a buy rating in a research report on Monday, September 12th. Citigroup Inc. reaffirmed a buy rating and issued a $61.00 price objective (down previously from $75.00) on shares of Nike in a research report on Wednesday, June 29th. OTR Global downgraded Nike to a positive rating in a research report on Thursday, June 16th. Finally, Deutsche Bank AG reaffirmed a buy rating on shares of Nike in a research report on Sunday, July 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $65.50.
Shares of Nike (NYSE:NKE) traded down 0.47% during trading on Friday, reaching $55.15. The company’s stock had a trading volume of 8,921,732 shares. Nike has a one year low of $51.48 and a one year high of $68.19. The company has a 50-day moving average price of $56.85 and a 200-day moving average price of $57.42. The stock has a market cap of $92.52 billion, a price-to-earnings ratio of 25.53 and a beta of 0.52.
Nike (NYSE:NKE) last released its earnings results on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.28 billion. Nike had a return on equity of 29.57% and a net margin of 11.61%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. On average, equities research analysts forecast that Nike will post $2.40 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.16%. Nike’s payout ratio is 29.63%.
In related news, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was purchased at an average cost of $55.09 per share, with a total value of $55,090.00. Following the purchase, the director now directly owns 23,682 shares of the company’s stock, valued at approximately $1,304,641.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $4,198,194.00. Following the transaction, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SevenBridge Financial Group LLC bought a new position in Nike during the second quarter valued at approximately $100,000. CapWealth Advisors LLC increased its stake in shares of 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. Cribstone Capital Management LLC acquired a new stake in shares of Nike during the second quarter worth about $106,000. Brick & Kyle Associates increased its stake in shares of 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. Finally, Gierl Augustine Investment Management Inc increased its stake in shares of 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. 62.04% of the stock is owned by hedge funds and other 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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