Nike, Inc. (NKE) PT Set at $68.00 by Morgan Stanley
NKE has been the subject of several other research reports. Jefferies Group LLC restated a buy rating and issued a $75.00 price target on shares of Nike in a report on Wednesday, March 22nd. UBS AG lowered their price target on Nike from $67.00 to $63.00 and set a buy rating for the company in a report on Wednesday, March 22nd. B. Riley restated a neutral rating and issued a $56.00 price target on shares of Nike in a report on Wednesday, March 22nd. Argus cut Nike from a buy rating to a hold rating and lifted their price target for the company from $55.25 to $55.56 in a report on Tuesday, April 4th. Finally, Piper Jaffray Companies restated a neutral rating and issued a $50.00 price target on shares of Nike in a report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the company. Nike presently has a consensus rating of Hold and an average target price of $60.95.
Shares of Nike (NYSE:NKE) traded up 1.44% on Thursday, hitting $59.95. 11,048,097 shares of the stock traded hands. The firm’s 50 day moving average is $55.02 and its 200-day moving average is $54.92. The company has a market cap of $98.73 billion, a PE ratio of 23.88 and a beta of 0.60. Nike has a 12 month low of $49.01 and a 12 month high of $60.33.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. The firm had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. Equities analysts predict that Nike will post $2.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Monday, June 5th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.20%. Nike’s payout ratio is currently 28.69%.
In related news, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the completion of the transaction, the insider now directly owns 300,108 shares in the company, valued at approximately $17,706,372. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Hilary K. Krane sold 28,072 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $58.10, for a total value of $1,630,983.20. Following the transaction, the chief accounting officer now owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 374,315 shares of company stock valued at $21,562,036. 3.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Accredited Investors Inc. raised its position in shares of Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after buying an additional 19 shares during the period. Montecito Bank & Trust raised its position in shares of Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after buying an additional 24 shares during the period. Smith Shellnut Wilson LLC ADV raised its position in shares of Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after buying an additional 41 shares during the period. Intrust Bank NA raised its position in shares of Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after buying an additional 46 shares during the period. Finally, Welch & Forbes LLC raised its position in shares of Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock worth $557,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 63.98% of the company’s stock.
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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