Nike Inc. (NYSE:NKE) had its target price boosted by equities research analysts at Citigroup Inc. from $61.00 to $64.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the footwear maker’s stock. Citigroup Inc.’s price objective points to a potential upside of 22.70% from the stock’s previous close.
NKE has been the topic of several other reports. Vetr downgraded Nike from a “hold” rating to a “sell” rating and set a $54.86 price target on the stock. in a report on Monday, July 11th. Barclays PLC set a $70.00 price objective on Nike and gave the stock a “buy” rating in a report on Monday, September 12th. B. Riley restated a “neutral” rating and set a $55.00 price objective (down from $62.00) on shares of Nike in a report on Monday. OTR Global downgraded Nike to a “positive” rating in a report on Thursday, June 16th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Nike in a report on Sunday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $64.35.
Nike (NYSE:NKE) opened at 52.16 on Wednesday. Nike has a 1-year low of $51.48 and a 1-year high of $68.19. The stock has a market capitalization of $87.50 billion, a PE ratio of 24.15 and a beta of 0.52. The stock’s 50 day moving average price is $56.63 and its 200 day moving average price is $57.26.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm had revenue of $9.06 billion for the quarter. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that Nike will post $2.38 earnings per share for the current fiscal year.
The firm also recently disclosed 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 yield of 1.23%. The ex-dividend date is Thursday, September 1st. Nike’s dividend payout ratio is presently 28.83%.
In related news, EVP John F. Slusher sold 72,696 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $13,389,972.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were 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 owns 310,795 shares in the company, valued at $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. raised its stake 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 last quarter. National Pension Service raised its stake 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 last quarter. Gofen & Glossberg LLC IL raised its stake 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 last quarter. AMP Capital Investors Ltd purchased a new stake in shares of Nike during the first quarter worth about $37,460,000. Finally, Bath Savings Trust Co raised its stake in shares of Nike by 2.8% in the second quarter. Bath Savings Trust Co now owns 202,524 shares of the footwear maker’s stock worth $11,179,000 after buying an additional 5,515 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.
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.