Nike Inc. (NKE) Trading 2.9% Higher
Nike Inc. (NYSE:NKE) traded up 2.9% on Friday . The company traded as high as $59.14 and last traded at $58.88, with a volume of 8,734,475 shares trading hands. The stock had previously closed at $57.21.
A number of equities research analysts have recently weighed in on the stock. Vetr lowered shares of Nike from a “hold” rating to a “sell” rating and set a $54.43 target price on the stock. in a research note on Monday. Deutsche Bank AG reissued a “buy” rating on shares of Nike in a research note on Wednesday, August 10th. Robert W. Baird reissued an “outperform” rating and set a $67.00 price objective on shares of Nike in a research note on Wednesday, July 6th. Nomura set a $64.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Tuesday, July 5th. Finally, HSBC reissued a “hold” rating and set a $56.00 price objective on shares of Nike in a research note on Monday, July 4th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Nike presently has an average rating of “Buy” and a consensus price target of $66.26.
The company has a market cap of $98.90 billion and a P/E ratio of 27.29. The company has a 50-day moving average of $56.41 and a 200-day moving average of $57.91.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. During the same period last year, the firm earned $0.49 EPS. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.28 billion. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts forecast that Nike Inc. will post $2.40 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.12%.
In other Nike news, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction on Monday, July 25th. The shares were 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 filing with the SEC, which is available at the SEC website. Also, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction on Friday, July 1st. The shares were acquired at an average cost of $55.09 per share, for a total transaction of $55,090.00. Following the purchase, the director now owns 23,682 shares in the company, valued at $1,304,641.38. The disclosure for this purchase can be found here.
Other large investors have made changes to their positions in the company. Buckingham Capital Management Inc. boosted its stake in shares of Nike by 2.4% in the third quarter. Buckingham Capital Management Inc. now owns 18,293 shares of the footwear maker’s stock valued at $2,249,000 after buying an additional 435 shares during the period. Cibc World Markets Corp boosted its position in shares of Nike by 14.3% in the fourth quarter. Cibc World Markets Corp now owns 42,152 shares of the footwear maker’s stock valued at $2,635,000 after buying an additional 5,270 shares during the last quarter. Pitcairn Co. boosted its position in shares of Nike by 39.5% in the fourth quarter. Pitcairn Co. now owns 22,734 shares of the footwear maker’s stock valued at $1,421,000 after buying an additional 6,437 shares during the last quarter. Nichols Asset Management LLC boosted its position in shares of Nike by 146.4% in the fourth quarter. Nichols Asset Management LLC now owns 16,580 shares of the footwear maker’s stock valued at $1,036,000 after buying an additional 9,850 shares during the last quarter. Finally, Birinyi Associates Inc. boosted its position in shares of Nike by 159.0% in the fourth quarter. Birinyi Associates Inc. now owns 18,000 shares of the footwear maker’s stock valued at $1,125,000 after buying an additional 11,050 shares during the last quarter.
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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