Nike Inc. (NKE) Given a $55.00 Price Target by Bank of America Corp. Analysts
Nike Inc. (NYSE:NKE) has been given a $55.00 price target by investment analysts at Bank of America Corp. in a research note issued on Wednesday. The firm currently has a a “hold” rating on the footwear maker’s stock. Bank of America Corp.’s price target suggests a potential upside of 5.44% from the company’s current price.
Other research analysts also recently issued research reports about the stock. Brean Capital dropped their target price on shares of Nike from $68.00 to $62.00 in a report on Wednesday, June 29th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Nike in a report on Tuesday, May 31st. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $68.00 target price on shares of Nike in a report on Thursday, June 16th. BB&T Corp. reiterated a “buy” rating and issued a $70.00 price target (down previously from $74.00) on shares of Nike in a research note on Tuesday, June 21st. Finally, Buckingham Research reiterated a “buy” rating and issued a $70.00 price target on shares of Nike in a research note on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $64.35.
Shares of Nike (NYSE:NKE) opened at 52.16 on Wednesday. The company has a market capitalization of $87.50 billion, a PE ratio of 24.15 and a beta of 0.52. Nike has a 1-year low of $51.48 and a 1-year high of $68.19. The company has a 50 day moving average price of $56.63 and a 200 day moving average price of $57.26.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.17. The company earned $9.06 billion during the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.34 EPS. Equities analysts predict that Nike will post $2.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. Nike’s dividend payout ratio is currently 28.83%.
In other Nike news, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $56.99, for a total value of $5,699,000.00. Following the completion of the transaction, the executive vice president now owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the completion of the transaction, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NKE. CapWealth Advisors LLC boosted its position in 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. Brick & Kyle Associates boosted its position in 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. SevenBridge Financial Group LLC bought a new position in Nike during the second quarter worth about $100,000. Cribstone Capital Management LLC bought a new position in Nike during the second quarter worth about $106,000. Finally, Gierl Augustine Investment Management Inc boosted its position 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 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 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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