Nike Inc. (NKE) Given a $58.00 Price Target at Piper Jaffray Cos.
A number of other research analysts have also weighed in on the stock. Citigroup Inc. reiterated a buy rating and issued a $61.00 price objective on shares of Nike in a research note on Thursday. Brean Capital reiterated a buy rating on shares of Nike in a research note on Thursday. Zacks Investment Research upgraded shares of Nike from a sell rating to a hold rating in a research note on Thursday. Morgan Stanley reiterated a hold rating and issued a $60.00 price objective on shares of Nike in a research note on Wednesday. Finally, Bank of America Corp. set a $55.00 price objective on shares of Nike and gave the company a hold rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $65.63.
Shares of Nike (NYSE:NKE) traded up 0.14% on Thursday, hitting $55.49. 3,912,150 shares of the stock traded hands. Nike has a 52 week low of $51.48 and a 52 week high of $68.19. The stock has a 50-day moving average price of $56.84 and a 200 day moving average price of $57.45. The firm has a market cap of $93.09 billion, a P/E ratio of 25.69 and a beta of 0.52.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Nike had a net margin of 11.61% and a return on equity of 29.57%. The business earned $8.24 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same period in the previous year, the business earned $0.49 EPS. Nike’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that Nike will post $2.40 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. Nike’s dividend payout ratio is currently 29.63%.
In other Nike news, Director John C. Lechleiter bought 1,000 shares of Nike stock in a transaction on Friday, July 1st. The stock was acquired at an average cost of $55.09 per share, with a total value of $55,090.00. Following the completion of the acquisition, the director now owns 23,682 shares in the company, valued at $1,304,641.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were 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 $13,389,972.75. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NKE. SevenBridge Financial Group LLC acquired a new stake in shares of Nike during the second quarter worth approximately $100,000. CapWealth Advisors LLC boosted its stake in shares of Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares in the last quarter. Cribstone Capital Management LLC acquired a new stake in shares of Nike during the second quarter worth approximately $106,000. Brick & Kyle Associates boosted its stake in shares of Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock worth $111,000 after buying an additional 200 shares in the last quarter. Finally, Gierl Augustine Investment Management Inc boosted its stake in shares of 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 in the last quarter. 62.04% of the stock is owned by institutional investors and hedge funds.
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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