Nike, Inc. (NKE) Upgraded to Hold at BidaskClub
BidaskClub upgraded shares of Nike, Inc. (NYSE:NKE) from a sell rating to a hold rating in a research note released on Wednesday morning.
NKE has been the topic of several other reports. Morgan Stanley set a $56.00 price objective on Nike and gave the company a neutral rating in a research report on Monday, March 13th. Piper Jaffray Companies reiterated a neutral rating and issued a $51.00 target price on shares of Nike in a research report on Thursday, March 16th. Bank of America Corporation reiterated an underperform rating and issued a $46.00 target price on shares of Nike in a research report on Wednesday, March 22nd. Deutsche Bank AG boosted their target price on Nike from $65.00 to $66.00 and gave the stock a buy rating in a research report on Wednesday, March 8th. Finally, Vetr downgraded Nike from a buy rating to a hold rating and set a $58.44 target price on the stock. in a research report on Monday, April 17th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $60.74.
Shares of Nike (NKE) opened at 52.02 on Wednesday. The stock has a market cap of $85.87 billion, a PE ratio of 21.70 and a beta of 0.47. Nike has a 12-month low of $49.01 and a 12-month high of $60.33. The firm has a 50 day moving average price of $53.24 and a 200 day moving average price of $54.21.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.15. Nike had a return on equity of 32.97% and a net margin of 12.02%. The business had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts expect that Nike will post $2.41 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Monday, June 5th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.38%. Nike’s dividend payout ratio is presently 30.00%.
In other news, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction on Friday, March 24th. The stock was sold at an average price of $55.67, for a total transaction of $2,783,500.00. Following the completion of the sale, the insider now owns 300,108 shares in the company, valued at approximately $16,707,012.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John C. Lechleiter acquired 1,000 shares of the firm’s stock in a transaction dated Friday, March 24th. The shares were acquired at an average price of $56.30 per share, with a total value of $56,300.00. Following the acquisition, the director now owns 28,660 shares in the company, valued at approximately $1,613,558. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 379,000 shares of company stock valued at $21,213,800. Company insiders own 3.90% of the company’s stock.
Several hedge funds have recently modified their holdings of NKE. Clarius Group LLC acquired a new stake in shares of Nike during the fourth quarter valued at approximately $111,000. Crestwood Advisors Group LLC acquired a new stake in shares of Nike during the first quarter valued at approximately $117,000. Webster Bank N. A. raised its stake in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares in the last quarter. Gierl Augustine Investment Management Inc raised its stake in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock valued at $118,000 after buying an additional 107 shares in the last quarter. Finally, Asset Planning Services Ltd. acquired a new stake in shares of Nike during the first quarter valued at approximately $118,000. Hedge funds and other institutional investors own 65.55% of the company’s stock.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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