Nike Inc. (NKE) PT Lowered to $55.00
Nike Inc. (NYSE:NKE) had its target price reduced by FBR & Co from $63.00 to $55.00 in a report released on Wednesday morning. They currently have a market perform rating on the footwear maker’s stock.
Other research analysts have also recently issued research reports about the stock. Vetr cut shares of Nike from a hold rating to a sell rating and set a $54.86 target price on the stock. in a research report on Monday, July 11th. Barclays PLC set a $70.00 target price on shares of Nike and gave the company a buy rating in a research report on Monday, September 12th. Citigroup Inc. upped their target price on shares of Nike from $61.00 to $64.00 and gave the company a buy rating in a research report on Wednesday, September 28th. B. Riley reaffirmed a neutral rating and issued a $55.00 target price (down previously from $62.00) on shares of Nike in a research report on Monday, September 26th. Finally, OTR Global cut shares of Nike to a positive rating in a research report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $64.54.
Nike (NYSE:NKE) opened at 52.67 on Wednesday. The stock has a market cap of $88.06 billion, a P/E ratio of 23.77 and a beta of 0.56. The stock has a 50 day moving average of $56.40 and a 200-day moving average of $57.06. Nike has a 12 month low of $51.48 and a 12 month high of $68.19.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The firm earned $9.06 billion during the quarter. During the same period in the prior year, the company posted $1.34 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that Nike will post $2.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were given a $0.16 dividend. The ex-dividend date was 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 other Nike news, 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. increased its stake in Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock worth $21,220,000 after buying an additional 29,538 shares during the period. National Pension Service increased its stake in Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock worth $43,599,000 after buying an additional 27,918 shares during the period. Gofen & Glossberg LLC IL increased its stake in Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock worth $16,806,000 after buying an additional 2,890 shares during the period. AMP Capital Investors Ltd acquired a new stake in Nike during the first quarter worth approximately $37,460,000. Finally, Dividend Assets Capital LLC increased its stake in Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock worth $94,538,000 after buying an additional 43,935 shares during the period. 62.04% of the stock is owned by institutional investors.
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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