Nike Inc. (NYSE:NKE)‘s stock had its “hold” rating reiterated by analysts at Wells Fargo & Co. in a research note issued on Wednesday.
A number of other research firms also recently issued reports on NKE. B. Riley reissued a “buy” rating and set a $66.00 target price on shares of Nike in a research report on Monday, June 27th. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Susquehanna reissued a “positive” rating and set a $74.00 target price on shares of Nike in a research report on Wednesday, June 22nd. Cowen and Company reaffirmed a “buy” rating on shares of Nike in a research report on Wednesday, June 22nd. Finally, FBR & Co lowered their price objective on shares of Nike from $63.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday. 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 company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $64.47.
Shares of Nike (NYSE:NKE) traded down 3.78% during mid-day trading on Wednesday, hitting $53.25. 32,655,632 shares of the stock traded hands. The stock has a market cap of $89.33 billion, a PE ratio of 24.65 and a beta of 0.52. Nike has a one year low of $51.48 and a one year high of $68.19. The stock has a 50-day moving average of $56.79 and a 200 day moving average of $57.33.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.17. The firm earned $9.06 billion during the quarter. Nike had a net margin of 11.61% and a return on equity of 29.57%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.34 EPS. Equities analysts predict that Nike will post $2.40 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio is currently 29.63%.
In other Nike news, EVP Hilary K. Krane sold 100,000 shares of Nike 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 transaction, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John C. Lechleiter purchased 1,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was acquired at an average cost of $55.09 per share, for a total transaction of $55,090.00. Following the completion of the transaction, the director now owns 23,682 shares in the company, valued at $1,304,641.38. The disclosure for this purchase can be found here. 3.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NKE. CapWealth Advisors LLC boosted its stake in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares in the last quarter. Brick & Kyle Associates boosted its stake in Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock worth $111,000 after buying an additional 200 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in Nike during the second quarter worth about $100,000. Cribstone Capital Management LLC purchased a new stake in Nike during the second quarter worth about $106,000. Finally, Gierl Augustine Investment Management Inc boosted its stake in Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares in the last quarter. 62.04% of the stock is currently owned by institutional investors.
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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