A number of other equities analysts have also recently issued reports on NKE. B. Riley reiterated a buy rating and issued a $66.00 target price on shares of Nike in a report on Monday, June 27th. Vetr upgraded Nike from a sell rating to a hold rating and set a $54.01 target price on the stock in a report on Wednesday, August 3rd. Piper Jaffray Cos. set a $58.00 target price on Nike and gave the stock a hold rating in a report on Thursday. FBR & Co reiterated a hold rating on shares of Nike in a report on Thursday, June 30th. Finally, Stifel Nicolaus cut their target price on Nike from $73.00 to $68.00 and set a buy rating on the stock in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike currently has an average rating of Buy and an average target price of $65.50.
Nike (NYSE:NKE) traded down 0.47% during trading on Friday, hitting $55.15. 8,921,732 shares of the company’s stock traded hands. Nike has a 52-week low of $51.48 and a 52-week high of $68.19. The company’s 50 day moving average price is $56.85 and its 200 day moving average price is $57.42. The company has a market cap of $92.52 billion, a PE ratio of 25.53 and a beta of 0.52.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Nike had a return on equity of 29.57% and a net margin of 11.61%. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.28 billion. During the same period last year, the business earned $0.49 EPS. Nike’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts expect that Nike will post $2.40 earnings per share for the current year.
The company 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 annualized dividend and a yield of 1.16%. Nike’s payout ratio is 29.63%.
In other news, Director John C. Lechleiter purchased 1,000 shares of Nike stock in a transaction that occurred on Friday, July 1st. The shares were bought at an average cost of $55.09 per share, with a total value of $55,090.00. Following the completion of the purchase, the director now directly owns 23,682 shares in the company, valued at $1,304,641.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Hilary K. Krane sold 100,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly 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 large investors have recently modified their holdings of the company. Williams Jones & Associates LLC boosted its stake in shares of Nike by 2.7% in the second quarter. Williams Jones & Associates LLC now owns 337,484 shares of the footwear maker’s stock valued at $18,629,000 after buying an additional 8,971 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Nike during the second quarter valued at $2,968,000. Kentucky Retirement Systems purchased a new stake in shares of Nike during the second quarter valued at $6,250,000. Mason Street Advisors LLC purchased a new stake in shares of Nike during the second quarter valued at $9,900,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Nike by 8.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 201,267 shares of the footwear maker’s stock valued at $11,110,000 after buying an additional 15,292 shares during the last quarter. 62.04% of the stock is currently 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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