Nike Inc. (NKE) Lowered to Hold at Brean Capital
Brean Capital cut shares of Nike Inc. (NYSE:NKE) from a buy rating to a hold rating in a report issued on Wednesday. They currently have $60.00 price target on the footwear maker’s stock, down from their previous price target of $63.00.
A number of other equities analysts have also recently commented on NKE. B. Riley reissued a buy rating and issued a $66.00 price objective on shares of Nike in a research note on Monday, June 27th. Deutsche Bank AG reissued a buy rating on shares of Nike in a research note on Sunday, July 17th. Vetr raised shares of Nike from a sell rating to a hold rating and set a $54.01 price objective for the company in a research note on Wednesday, August 3rd. Piper Jaffray Cos. set a $58.00 price objective on shares of Nike and gave the stock a hold rating in a research note on Thursday, September 22nd. Finally, FBR & Co reissued a hold rating on shares of Nike in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the stock. Nike currently has a consensus rating of Buy and an average price target of $64.54.
Nike (NYSE:NKE) opened at 52.67 on Wednesday. Nike has a 12 month low of $51.48 and a 12 month high of $68.19. The stock has a market cap of $88.06 billion, a PE ratio of 23.77 and a beta of 0.56. The company’s 50 day moving average is $56.40 and its 200 day moving average is $57.06.
Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The business earned $9.06 billion during the quarter. During the same period in the previous year, the business earned $1.34 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts anticipate that Nike will post $2.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were issued a $0.16 dividend. The ex-dividend date was Thursday, September 1st. This represents a $0.64 annualized dividend 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 firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John C. Lechleiter bought 1,000 shares of Nike stock in a transaction that occurred on Friday, September 30th. The stock was purchased at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the acquisition, the director now owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Nike by 0.4% in the second quarter. Vanguard Group Inc. now owns 89,158,174 shares of the footwear maker’s stock valued at $4,921,530,000 after buying an additional 366,833 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock valued at $2,265,096,000 after buying an additional 204,944 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares in the last quarter. Janus Capital Management LLC raised its position in shares of Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock valued at $1,405,003,000 after buying an additional 3,203,177 shares in the last quarter. Finally, Lone Pine Capital LLC raised its position in shares of Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock valued at $1,010,475,000 after buying an additional 6,309,324 shares in the last quarter. 62.04% of the stock is currently owned by hedge funds and other institutional investors.
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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