Analysts at Guggenheim initiated coverage on shares of Nike Inc. (NYSE:NKE) in a research note issued on Friday. The firm set a “buy” rating on the footwear maker’s stock.
NKE has been the topic of a number of other research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $75.00 target price on shares of Nike in a research report on Sunday, September 25th. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a research report on Friday, September 16th. Morgan Stanley restated a “hold” rating and issued a $60.00 price objective on shares of Nike in a research report on Wednesday, September 21st. Cowen and Company set a $63.00 price objective on Nike and gave the stock a “buy” rating in a research report on Tuesday, September 13th. Finally, Jefferies Group restated a “buy” rating on shares of Nike in a research report on Monday, September 12th. One 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 a consensus rating of “Buy” and an average target price of $64.35.
Nike (NYSE:NKE) opened at 52.16 on Friday. The stock has a market capitalization of $87.50 billion, a price-to-earnings ratio of 24.15 and a beta of 0.52. Nike has a 12-month low of $51.48 and a 12-month high of $68.19. The company has a 50 day moving average of $56.63 and a 200-day moving average of $57.26.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.17. The firm had revenue of $9.06 billion for the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. Nike’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. On average, equities research analysts forecast that Nike will post $2.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. Nike’s dividend payout ratio (DPR) is presently 28.83%.
In related news, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction that occurred 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 sale, the executive vice president now directly owns 310,795 shares in the company, valued at $17,712,207.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction that occurred on 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 completion of the sale, 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.
Several hedge funds have recently bought and sold shares of the stock. SevenBridge Financial Group LLC acquired a new stake in Nike during the second quarter worth $100,000. CapWealth Advisors LLC increased its stake in 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 last quarter. Cribstone Capital Management LLC purchased a new stake in Nike during the second quarter worth approximately $106,000. Brick & Kyle Associates increased its stake in 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 last quarter. Finally, Gierl Augustine Investment Management Inc increased its stake in 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 last quarter. Hedge funds and other institutional investors 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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