Susquehanna assumed coverage on shares of Nike Inc. (NYSE:NKE) in a report issued on Tuesday morning. The brokerage issued a positive rating and a $63.00 price objective on the footwear maker’s stock.
A number of other research analysts also recently commented on the company. Wells Fargo & Co. restated a hold rating on shares of Nike in a research note on Thursday, October 6th. B. Riley restated a neutral rating and set a $55.00 price objective on shares of Nike in a research note on Saturday, October 1st. Guggenheim began coverage on Nike in a research note on Friday, September 30th. They set a buy rating and a $70.00 price objective for the company. Canaccord Genuity restated a hold rating and set a $52.00 price objective on shares of Nike in a research note on Thursday, September 29th. Finally, Bank of America Corp. set a $55.00 price objective on Nike and gave the stock a hold rating in a research note on Wednesday, September 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Nike presently has a consensus rating of Buy and an average price target of $63.99.
Nike (NYSE:NKE) opened at 52.03 on Tuesday. The stock’s 50 day moving average price is $55.01 and its 200 day moving average price is $56.55. The firm has a market cap of $86.99 billion, a P/E ratio of 23.48 and a beta of 0.56. Nike has a 1-year low of $51.48 and a 1-year high of $68.19.
Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 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 return on equity of 30.56% and a net margin of 11.60%. Nike’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.34 earnings per share. Equities research analysts predict that Nike will post $2.38 EPS 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 yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s dividend payout ratio (DPR) is currently 28.83%.
In other Nike news, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction on Friday, September 30th. The stock was acquired at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the acquisition, the director now directly owns 27,560 shares in the company, valued at $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Community Bank N.A. raised its stake in Nike by 18.3% in the third quarter. Community Bank N.A. now owns 21,080 shares of the footwear maker’s stock worth $1,110,000 after buying an additional 3,260 shares during the period. Parametrica Management Ltd acquired a new stake in Nike during the third quarter worth about $268,000. Highland Capital Management LLC acquired a new stake in Nike during the third quarter worth about $859,000. Orrstown Financial Services Inc. raised its stake in Nike by 6.7% in the third quarter. Orrstown Financial Services Inc. now owns 15,212 shares of the footwear maker’s stock worth $801,000 after buying an additional 957 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in Nike by 0.4% in the third quarter. Nisa Investment Advisors LLC now owns 495,085 shares of the footwear maker’s stock worth $26,067,000 after buying an additional 1,890 shares during the period. 62.04% of the stock is currently 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.
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