Nike Inc. (NYSE:NKE)‘s stock had its “buy” rating restated by research analysts at DA Davidson in a research report issued on Wednesday, StockTargetPrices.com reports. They presently have a $66.00 target price on the footwear maker’s stock. DA Davidson’s price target would indicate a potential upside of 19.26% from the stock’s current price.
NKE has been the subject of a number of other reports. Vetr cut shares of Nike from a “hold” rating to a “sell” rating and set a $54.86 price target for the company. in a research report on Monday, July 11th. Barclays PLC set a $70.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Monday, September 12th. Citigroup Inc. lifted their price target on shares of Nike from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. B. Riley reiterated a “neutral” rating and set a $55.00 price target (down from $62.00) on shares of Nike in a research report on Monday. Finally, OTR Global cut shares of Nike to a “positive” rating in a research report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $64.54.
Nike (NYSE:NKE) opened at 55.34 on Wednesday. The company has a market cap of $92.84 billion, a price-to-earnings ratio of 25.62 and a beta of 0.52. Nike has a 1-year low of $51.48 and a 1-year high of $68.19. The company’s 50 day moving average is $56.79 and its 200 day moving average is $57.33.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share 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 business earned $9.06 billion during the quarter. During the same quarter in the prior year, the business earned $1.34 earnings per share. Nike’s revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that Nike will post $2.40 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio (DPR) is presently 29.63%.
In related news, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the completion of the sale, the executive vice president now owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the sale, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NKE. Gierl Augustine Investment Management Inc increased 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 during the period. CWM LLC increased its stake in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares during the period. CHICAGO TRUST Co NA increased its stake in Nike by 0.3% in the second quarter. CHICAGO TRUST Co NA now owns 14,656 shares of the footwear maker’s stock worth $809,000 after buying an additional 38 shares during the period. Mission Wealth Management LLC increased its stake in Nike by 1.1% in the second quarter. Mission Wealth Management LLC now owns 4,544 shares of the footwear maker’s stock worth $251,000 after buying an additional 50 shares during the period. Finally, TRUE Private Wealth Advisors increased its stake in Nike by 0.3% in the second quarter. TRUE Private Wealth Advisors now owns 15,891 shares of the footwear maker’s stock worth $877,000 after buying an additional 53 shares during the period. 62.04% of the stock is owned by hedge funds and other 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.
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.