Nike’s (NKE) Market Perform Rating Reaffirmed at FBR & Co

FBR & Co reaffirmed their market perform rating on shares of Nike Inc (NYSE:NKE) in a research report report published on Wednesday morning. The brokerage currently has a $53.00 price objective on the footwear maker’s stock.

Other equities analysts have also issued reports about the company. Stifel Nicolaus set a $68.00 price target on Nike and gave the stock a buy rating in a report on Sunday, December 25th. Piper Jaffray Companies set a $52.00 price target on Nike and gave the stock a hold rating in a report on Sunday, December 18th. Deutsche Bank AG set a $65.00 price target on Nike and gave the stock a buy rating in a report on Sunday, December 18th. B. Riley reaffirmed a neutral rating and issued a $56.00 price target on shares of Nike in a report on Wednesday, December 21st. Finally, Citigroup Inc reaffirmed a buy rating and issued a $64.00 price target on shares of Nike in a report on Wednesday, December 21st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $61.38.

Nike (NYSE:NKE) opened at 55.93 on Wednesday. Nike has a one year low of $49.01 and a one year high of $62.64. The firm has a market cap of $92.46 billion, a PE ratio of 23.33 and a beta of 0.44. The firm has a 50-day moving average price of $56.55 and a 200-day moving average price of $53.36.

Nike (NYSE:NKE) last released its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $8.43 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same period last year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts expect that Nike will post $2.34 EPS for the current fiscal year.

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The firm 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 dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. Nike’s dividend payout ratio is presently 31.72%.

In other Nike news, Director John C. Lechleiter purchased 1,000 shares of Nike stock in a transaction that occurred on Friday, March 24th. The shares were bought at an average price of $56.30 per share, for a total transaction of $56,300.00. Following the acquisition, the director now directly owns 28,660 shares in the company, valued at $1,613,558. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David J. Ayre sold 200,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $52.39, for a total value of $10,478,000.00. Following the transaction, the executive vice president now owns 357,713 shares in the company, valued at approximately $18,740,584.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 686,000 shares of company stock worth $36,261,180. 3.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NKE. Morgan Stanley increased its position in Nike by 10.1% in the third quarter. Morgan Stanley now owns 22,764,806 shares of the footwear maker’s stock worth $1,198,567,000 after buying an additional 2,090,700 shares during the period. CIBC World Markets Inc. increased its position in Nike by 2.6% in the third quarter. CIBC World Markets Inc. now owns 76,206 shares of the footwear maker’s stock worth $4,012,000 after buying an additional 1,898 shares during the period. Trust Department MB Financial Bank N A increased its position in Nike by 0.3% in the third quarter. Trust Department MB Financial Bank N A now owns 173,952 shares of the footwear maker’s stock worth $9,159,000 after buying an additional 526 shares during the period. Carmignac Gestion increased its position in Nike by 148.9% in the third quarter. Carmignac Gestion now owns 5,259,454 shares of the footwear maker’s stock worth $276,910,000 after buying an additional 3,146,536 shares during the period. Finally, Paragon Capital Management LLC increased its position in Nike by 2.9% in the third quarter. Paragon Capital Management LLC now owns 197,558 shares of the footwear maker’s stock worth $10,401,000 after buying an additional 5,595 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.

About Nike

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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