Brean Capital cut shares of Nike Inc. (NYSE:NKE) from a buy rating to a hold rating in a report published on Wednesday morning. The brokerage currently has $60.00 price objective on the footwear maker’s stock, down from their prior price objective of $63.00.
Other equities analysts also recently issued reports about the company. BB&T Corp. reiterated a buy rating and set a $70.00 target price (down from $74.00) on shares of Nike in a research report on Tuesday, June 21st. Buckingham Research reiterated a buy rating and set a $70.00 target price on shares of Nike in a research report on Tuesday, June 21st. Jefferies Group reiterated a buy rating and set a $67.00 target price (down from $74.00) on shares of Nike in a research report on Tuesday, June 21st. Credit Suisse Group AG reiterated a buy rating and set a $68.00 target price on shares of Nike in a research report on Thursday, June 16th. Finally, Vetr downgraded Nike from a strong-buy rating to a buy rating and set a $61.63 target price on the stock. in a research report on Monday, June 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $64.35.
Nike (NYSE:NKE) traded up 0.036% during mid-day trading on Wednesday, hitting $53.269. 4,803,575 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $56.71 and its 200-day moving average price is $57.30. Nike has a one year low of $51.48 and a one year high of $68.20. The stock has a market cap of $89.37 billion, a PE ratio of 24.662 and a beta of 0.52.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 posted $1.34 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that Nike will post $2.40 EPS 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 issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Thursday, September 1st. Nike’s payout ratio is 28.83%.
In related news, Director John C. Lechleiter bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were acquired at an average cost of $55.09 per share, for a total transaction of $55,090.00. Following the acquisition, the director now directly owns 23,682 shares of the company’s stock, valued at approximately $1,304,641.38. The transaction was disclosed in a filing 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 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 completion of the transaction, 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.
Institutional investors have recently modified their holdings of the company. SevenBridge Financial Group LLC bought a new position in shares of Nike during the second quarter worth about $100,000. CapWealth Advisors LLC increased its position 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 in the last quarter. Cribstone Capital Management LLC acquired a new position in shares of Nike during the second quarter worth $106,000. Brick & Kyle Associates increased its position 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 in the last quarter. Finally, Gierl Augustine Investment Management Inc increased its position 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 in the last quarter. Institutional investors and hedge funds own 62.04% of the company’s stock.
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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