Nike Inc (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a note issued to investors on Wednesday. They presently have a $61.00 price target on the footwear maker’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 8.23% from the stock’s current price.
Other research analysts have also issued reports about the company. B. Riley reaffirmed a “neutral” rating and set a $56.00 target price on shares of Nike in a research report on Friday, December 16th. Piper Jaffray Companies set a $52.00 target price on Nike and gave the company a “hold” rating in a research report on Sunday, December 18th. Deutsche Bank AG set a $65.00 target price on Nike and gave the company a “buy” rating in a research report on Sunday, December 18th. Stifel Nicolaus set a $68.00 target price on Nike and gave the company a “buy” rating in a research report on Sunday, December 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 target price on shares of Nike in a research report on Wednesday, March 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $61.46.
Nike (NYSE:NKE) traded down 0.80% on Wednesday, hitting $55.91. The stock had a trading volume of 6,018,880 shares. The company’s 50 day moving average is $56.45 and its 200-day moving average is $53.41. The stock has a market cap of $92.42 billion, a P/E ratio of 23.32 and a beta of 0.44. Nike has a 12 month low of $49.01 and a 12 month high of $62.64.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.15. Nike had a return on equity of 31.70% and a net margin of 11.60%. The company had revenue of $8.43 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same period in the prior year, the company posted $0.55 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts forecast that Nike will post $2.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 6th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.28%. Nike’s dividend payout ratio is presently 31.72%.
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In related news, EVP John F. Slusher sold 136,000 shares of the stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $52.13, for a total value of $7,089,680.00. Following the completion of the sale, the executive vice president now owns 225,165 shares of the company’s stock, valued at $11,737,851.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 100,000 shares of the stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $52.94, for a total value of $5,294,000.00. Following the completion of the sale, the chairman now directly owns 1,966,235 shares of the company’s stock, valued at approximately $104,092,480.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 636,000 shares of company stock valued at $33,477,680. Insiders own 3.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. British Columbia Investment Management Corp boosted its stake in Nike by 1.1% in the third quarter. British Columbia Investment Management Corp now owns 1,304,184 shares of the footwear maker’s stock valued at $68,665,000 after buying an additional 14,377 shares in the last quarter. Vontobel Asset Management Inc. boosted its stake in Nike by 15.8% in the third quarter. Vontobel Asset Management Inc. now owns 3,552,726 shares of the footwear maker’s stock valued at $193,225,000 after buying an additional 485,550 shares in the last quarter. Community Trust & Investment Co. boosted its stake in Nike by 1.2% in the third quarter. Community Trust & Investment Co. now owns 13,155 shares of the footwear maker’s stock valued at $693,000 after buying an additional 155 shares in the last quarter. Gillespie Robinson & Grimm Inc. boosted its stake in Nike by 7.6% in the third quarter. Gillespie Robinson & Grimm Inc. now owns 381,481 shares of the footwear maker’s stock valued at $19,757,000 after buying an additional 27,055 shares in the last quarter. Finally, PacWest Financial Management Inc boosted its stake in Nike by 4.1% in the third quarter. PacWest Financial Management Inc now owns 27,180 shares of the footwear maker’s stock valued at $1,431,000 after buying an additional 1,060 shares in the last quarter. 62.23% 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’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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