Nike Inc. (NYSE:NKE)‘s stock had its “neutral” rating reissued by Piper Jaffray Cos. in a note issued to investors on Wednesday. They currently have a $53.00 price target on the footwear maker’s stock. Piper Jaffray Cos.’s price target suggests a potential upside of 1.86% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the company. Susquehanna began coverage on Nike in a report on Tuesday. They issued a “positive” rating and a $51.79 price objective for the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Nike in a report on Thursday, October 6th. B. Riley reiterated a “neutral” rating and issued a $55.00 price objective on shares of Nike in a report on Saturday, October 1st. Guggenheim began coverage on Nike in a report on Friday, September 30th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $52.00 price objective on shares of Nike in a report on Thursday, September 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $63.63.
Shares of Nike (NYSE:NKE) opened at 52.03 on Wednesday. Nike has a one year low of $51.48 and a one year high of $68.19. The company has a market capitalization of $86.99 billion, a P/E ratio of 23.48 and a beta of 0.56. The firm has a 50-day moving average price of $55.01 and a 200-day moving average price of $56.55.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping 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%. Nike’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 earnings per share. Equities analysts forecast that Nike will post $2.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s payout ratio is 28.83%.
In other news, Director John C. Lechleiter purchased 1,000 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were purchased at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the purchase, the director now directly owns 27,560 shares in the company, valued at approximately $1,452,963.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 231,861 shares in the company, valued at $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in NKE. Capstone Asset Management Co. increased its position in 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. Dividend Assets Capital LLC increased its position in 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. Carmignac Gestion purchased a new position in Nike during the second quarter worth about $116,633,000. National Pension Service increased its position in 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. Finally, Gofen & Glossberg LLC IL increased its position in 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. 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.
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