Nike Inc. (NYSE:NKE) had its target price trimmed by Barclays PLC from $70.00 to $65.00 in a research report sent to investors on Wednesday morning. The firm currently has an overweight rating on the footwear maker’s stock.
Other analysts have also issued reports about the company. B. Riley reissued a buy rating and issued a $66.00 price target on shares of Nike in a research note on Monday, June 27th. Zacks Investment Research raised Nike from a sell rating to a hold rating in a research note on Thursday, September 22nd. Susquehanna reissued a positive rating and issued a $74.00 price target on shares of Nike in a research note on Wednesday, June 22nd. Cowen and Company reissued a buy rating on shares of Nike in a research note on Wednesday, June 22nd. Finally, Piper Jaffray Cos. reissued an overweight rating and issued a $58.00 price target (down from $69.00) on shares of Nike in a research note on Wednesday, June 29th. One research 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 stock. Nike has an average rating of Buy and an average price target of $64.54.
Shares of Nike (NYSE:NKE) opened at 52.67 on Wednesday. The company’s 50 day moving average is $56.40 and its 200-day moving average is $57.06. Nike has a 1-year low of $51.48 and a 1-year high of $68.19. The stock has a market capitalization of $88.06 billion, a price-to-earnings ratio of 23.77 and a beta of 0.56.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. The business 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%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 EPS. Equities analysts anticipate that Nike will post $2.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, September 1st. Nike’s payout ratio is 28.83%.
In other Nike news, Director John C. Lechleiter purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The shares were purchased at an average cost of $52.72 per share, with a total value of $52,720.00. Following the completion of the transaction, the director now owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 231,861 shares in the company, 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.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capstone Asset Management Co. increased its position in shares of Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock worth $21,220,000 after buying an additional 29,538 shares during the period. National Pension Service increased its position in shares of Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock worth $43,599,000 after buying an additional 27,918 shares during the period. Gofen & Glossberg LLC IL increased its position in shares of Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock worth $16,806,000 after buying an additional 2,890 shares during the period. AMP Capital Investors Ltd purchased a new position in shares of Nike during the first quarter worth approximately $37,460,000. Finally, Dividend Assets Capital LLC increased its position in shares of Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock worth $94,538,000 after buying an additional 43,935 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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