Nike Inc. (NKE) Rating Reiterated by Morgan Stanley
Nike Inc. (NYSE:NKE)‘s stock had its “hold” rating restated by Morgan Stanley in a research report issued on Wednesday. They presently have a $60.00 target price on the footwear maker’s stock. Morgan Stanley’s target price would suggest a potential upside of 9.35% from the stock’s current price.
Other analysts have also issued research reports about the stock. B. Riley restated a “buy” rating and set a $66.00 price target on shares of Nike in a research note on Wednesday, June 22nd. Deutsche Bank AG restated a “buy” rating on shares of Nike in a research note on Sunday, July 17th. Canaccord Genuity restated a “neutral” rating and set a $56.00 price target (down previously from $57.00) on shares of Nike in a research note on Wednesday, June 29th. BB&T Corp. reiterated a “buy” rating and issued a $70.00 target price (down previously from $74.00) on shares of Nike in a research note on Tuesday, June 21st. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $61.00 target price (down previously from $75.00) on shares of Nike in a research note on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company. Nike presently has a consensus rating of “Buy” and a consensus target price of $65.63.
Nike (NYSE:NKE) traded down 0.13% during trading on Wednesday, reaching $54.80. 2,737,803 shares of the company were exchanged. Nike has a one year low of $51.48 and a one year high of $68.19. The stock has a market capitalization of $91.93 billion, a price-to-earnings ratio of 25.37 and a beta of 0.52. The firm’s 50 day moving average price is $56.80 and its 200-day moving average price is $57.48.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 28th. The footwear maker reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. The business earned $8.24 billion during the quarter, compared to analyst estimates of $8.28 billion. Nike had a net margin of 11.61% and a return on equity of 29.57%. Nike’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. On average, equities research analysts predict that Nike will post $2.40 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, September 1st. Nike’s dividend payout ratio is presently 29.63%.
In related news, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 310,795 shares in the company, valued at approximately $17,712,207.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction dated 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 completion of the sale, the executive vice president now owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. CapWealth Advisors LLC increased 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 valued at $104,000 after buying an additional 1,100 shares during the last quarter. Brick & Kyle Associates increased 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 valued at $111,000 after buying an additional 200 shares during the last quarter. SevenBridge Financial Group LLC acquired a new stake in Nike during the second quarter valued at approximately $100,000. Cribstone Capital Management LLC acquired a new stake in Nike during the second quarter valued at approximately $106,000. Finally, 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 valued at $111,000 after buying an additional 6 shares during the last quarter. Institutional investors own 62.04% of the company’s stock.
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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