Nike’s (NKE) Neutral Rating Reaffirmed at Piper Jaffray Cos.
Piper Jaffray Cos. reaffirmed their neutral rating on shares of Nike Inc. (NYSE:NKE) in a report published on Wednesday. Piper Jaffray Cos. currently has a $53.00 target price on the footwear maker’s stock.
A number of other research firms have also recently weighed in on NKE. Zacks Investment Research raised shares of Nike from a sell rating to a hold rating in a report on Wednesday, August 24th. B. Riley cut shares of Nike from a buy rating to a neutral rating and increased their price objective for the stock from $58.66 to $62.00 in a report on Friday, August 26th. Stifel Nicolaus reaffirmed a buy rating and issued a $68.00 price objective on shares of Nike in a report on Friday, August 26th. Brean Capital reaffirmed a buy rating and issued a $62.00 price objective on shares of Nike in a report on Sunday, August 21st. Finally, Vetr raised shares of Nike from a sell rating to a hold rating and set a $56.94 price objective on the stock in a report on Monday, August 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $63.63.
Shares of Nike (NYSE:NKE) traded down 1.43% during midday trading on Wednesday, reaching $51.69. 1,710,780 shares of the company traded hands. The company has a 50 day moving average of $55.24 and a 200 day moving average of $56.59. Nike has a 12 month low of $51.48 and a 12 month high of $68.19. The firm has a market capitalization of $86.43 billion, a P/E ratio of 23.33 and a beta of 0.56.
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 Zacks’ consensus estimate of $0.56 by $0.17. The company had revenue of $9.06 billion for the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company posted $1.34 earnings per share. On average, equities research analysts predict that Nike will post $2.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.22%. Nike’s dividend payout ratio is currently 28.83%.
In other Nike news, EVP John F. Slusher sold 72,696 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Lechleiter acquired 1,000 shares of the company’s stock in a transaction on Friday, September 30th. The shares were purchased at an average cost of $52.72 per share, with a total value of $52,720.00. Following the completion of the acquisition, the director now directly owns 27,560 shares in the company, valued at approximately $1,452,963.20. The disclosure for this purchase 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 the company. Gierl Augustine Investment Management Inc raised 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 valued at $111,000 after buying an additional 6 shares during the last quarter. CWM LLC raised its position in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock valued at $123,000 after buying an additional 7 shares during the last quarter. CHICAGO TRUST Co NA raised its position in Nike by 0.3% in the second quarter. CHICAGO TRUST Co NA now owns 14,656 shares of the footwear maker’s stock valued at $809,000 after buying an additional 38 shares during the last quarter. Mission Wealth Management LLC raised its position in Nike by 1.1% in the second quarter. Mission Wealth Management LLC now owns 4,544 shares of the footwear maker’s stock valued at $251,000 after buying an additional 50 shares during the last quarter. Finally, TRUE Private Wealth Advisors raised its position in Nike by 0.3% in the second quarter. TRUE Private Wealth Advisors now owns 15,891 shares of the footwear maker’s stock valued at $877,000 after buying an additional 53 shares during the last quarter. 62.04% of the stock is 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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