Nike Inc. (NYSE:NKE) had its price objective decreased by Canaccord Genuity from $56.00 to $52.00 in a research note released on Friday. Canaccord Genuity currently has a hold rating on the footwear maker’s stock.
Several other analysts have also recently weighed in on NKE. Vetr raised Nike from a buy rating to a strong-buy rating and set a $62.64 price target for the company in a report on Monday, May 30th. Deutsche Bank AG reissued a buy rating on shares of Nike in a report on Tuesday, May 31st. Morgan Stanley cut Nike from an overweight rating to an equal weight rating and dropped their price target for the stock from $69.00 to $60.00 in a report on Wednesday, June 1st. Bank of America Corp. cut Nike from a buy rating to a neutral rating and dropped their price target for the stock from $72.00 to $60.00 in a report on Wednesday, June 1st. Finally, Zacks Investment Research cut Nike from a hold rating to a sell rating in a report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $64.67.
Nike (NYSE:NKE) opened at 55.34 on Friday. The company has a market cap of $92.84 billion, a PE ratio of 25.62 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 price of $56.79 and a 200 day moving average price of $57.33.
Nike (NYSE:NKE) last released its quarterly 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. The business earned $9.06 billion during the quarter. Nike had a return on equity of 29.57% and a net margin of 11.61%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 earnings per share. On average, analysts forecast that Nike will post $2.40 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio is presently 29.63%.
In other news, EVP Hilary K. Krane sold 100,000 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of the company’s 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 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. 3.90% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in NKE. SevenBridge Financial Group LLC acquired a new position in Nike during the second quarter valued at about $100,000. CapWealth Advisors LLC raised its position in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock valued at $104,000 after buying an additional 1,100 shares in the last quarter. Cribstone Capital Management LLC purchased a new position in shares of Nike during the second quarter valued at $106,000. Brick & Kyle Associates raised 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 valued at $111,000 after buying an additional 200 shares during the period. Finally, Gierl Augustine Investment Management Inc raised 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 valued at $111,000 after buying an additional 6 shares during the period. 62.04% of the stock is owned by 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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