Jefferies Group Analysts Give Nike Inc. (NKE) a $65.00 Price Target
NKE has been the subject of a number of other research reports. Deutsche Bank AG reaffirmed a buy rating and issued a $75.00 price target on shares of Nike in a research note on Sunday, September 25th. Zacks Investment Research raised Nike from a sell rating to a hold rating in a research note on Friday, September 16th. Morgan Stanley reaffirmed a hold rating and issued a $60.00 price target on shares of Nike in a research note on Wednesday, September 21st. Cowen and Company set a $63.00 price target on Nike and gave the company a buy rating in a research note on Tuesday, September 13th. Finally, Piper Jaffray Cos. downgraded Nike from an overweight rating to a neutral rating and boosted their price target for the company from $57.72 to $58.00 in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $64.54.
Nike (NYSE:NKE) opened at 52.65 on Wednesday. Nike has a 52-week low of $51.48 and a 52-week high of $68.19. The firm’s 50-day moving average is $56.51 and its 200-day moving average is $57.20. The firm has a market capitalization of $88.03 billion, a P/E ratio of 23.76 and a beta of 0.56.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The company earned $9.06 billion during the quarter. During the same period in the prior year, the business posted $1.34 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Nike will post $2.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. Nike’s dividend payout ratio (DPR) is 28.83%.
In related news, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the sale, the executive vice president now owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the 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 sale, the executive vice president now directly owns 231,861 shares in the company, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of NKE. RKL Wealth Management LLC boosted its stake in shares of Nike by 0.7% in the first quarter. RKL Wealth Management LLC now owns 87,744 shares of the footwear maker’s stock worth $5,394,000 after buying an additional 614 shares during the period. St. Johns Investment Management Company LLC boosted its stake in shares of Nike by 1.8% in the first quarter. St. Johns Investment Management Company LLC now owns 17,444 shares of the footwear maker’s stock worth $1,072,000 after buying an additional 302 shares during the period. Chesley Taft & Associates LLC boosted its stake in shares of Nike by 33.9% in the first quarter. Chesley Taft & Associates LLC now owns 118,979 shares of the footwear maker’s stock worth $7,314,000 after buying an additional 30,145 shares during the period. IMS Capital Management boosted its stake in shares of Nike by 12.9% in the first quarter. IMS Capital Management now owns 5,983 shares of the footwear maker’s stock worth $368,000 after buying an additional 685 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in shares of Nike by 9.9% in the first quarter. DAVENPORT & Co LLC now owns 16,390 shares of the footwear maker’s stock worth $1,007,000 after buying an additional 1,471 shares during the period. 62.04% of the stock is currently 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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