Nike Inc. (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by investment analysts at Nomura in a report issued on Tuesday. They currently have a $60.00 price target on the footwear maker’s stock, down from their prior price target of $64.00. Nomura’s price target suggests a potential upside of 8.42% from the stock’s previous close.
A number of other equities analysts also recently weighed in 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. Deutsche Bank AG reiterated a “buy” rating on shares of Nike in a report on Sunday, July 17th. 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 company a “hold” rating in a report on Thursday, September 22nd. Finally, FBR & Co reiterated a “hold” rating on shares of Nike in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have given a buy rating to the company. Nike currently has a consensus rating of “Buy” and a consensus target price of $64.67.
Nike (NYSE:NKE) opened at 55.34 on Tuesday. The stock’s 50 day moving average is $56.79 and its 200-day moving average is $57.33. Nike has a 52-week low of $51.48 and a 52-week high of $68.19. The firm has a market capitalization of $92.84 billion, a PE ratio of 25.62 and a beta of 0.52.
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. Nike had a net margin of 11.61% and a return on equity of 29.57%. The company earned $9.06 billion during the quarter. During the same period in the prior year, the company posted $1.34 earnings per share. Nike’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that Nike will post $2.40 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, September 1st. Nike’s dividend payout ratio (DPR) is presently 29.63%.
In other news, Director John C. Lechleiter bought 1,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were purchased at an average price of $55.09 per share, for a total transaction of $55,090.00. Following the purchase, the director now owns 23,682 shares of the company’s stock, valued at approximately $1,304,641.38. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Hilary K. Krane sold 100,000 shares of the business’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 sale, the executive vice president now owns 310,795 shares in the company, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Williams Jones & Associates LLC boosted its stake in 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 Nike during the second quarter valued at approximately $2,968,000. Kentucky Retirement Systems purchased a new stake in Nike during the second quarter valued at approximately $6,250,000. Mason Street Advisors LLC purchased a new stake in Nike during the second quarter valued at approximately $9,900,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in 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. Hedge funds and other institutional investors own 62.04% of the company’s stock.
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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