Nike, Inc. (NKE) Rating Reiterated by Robert W. Baird
A number of other analysts have also recently commented on the stock. Jefferies Group LLC cut shares of Nike to a buy rating in a research note on Tuesday, August 29th. Vetr cut shares of Nike from a strong-buy rating to a buy rating and set a $59.57 target price for the company. in a research note on Monday, September 4th. Berenberg Bank initiated coverage on shares of Nike in a research note on Tuesday, May 16th. They issued a buy rating and a $70.00 target price for the company. Stifel Nicolaus reiterated a buy rating and issued a $66.00 target price on shares of Nike in a research note on Friday, June 30th. Finally, Morgan Stanley upgraded shares of Nike from an equal weight rating to an overweight rating and lifted their target price for the stock from $56.00 to $68.00 in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $60.44.
Nike (NYSE NKE) opened at 53.52 on Friday. The stock has a market capitalization of $87.94 billion, a PE ratio of 21.32 and a beta of 0.61. The stock’s 50 day moving average is $56.31 and its 200 day moving average is $55.53. Nike has a 12-month low of $49.01 and a 12-month high of $60.53.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. Equities analysts anticipate that Nike will post $2.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. Nike’s payout ratio is 28.69%.
In other Nike news, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $59.00, for a total value of $2,950,000.00. Following the transaction, the insider now owns 300,108 shares of the company’s stock, valued at $17,706,372. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Campion sold 5,722 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the completion of the transaction, the chief financial officer now directly owns 34,976 shares in the company, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock worth $28,485,174 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Personal Capital Advisors Corp lifted its position in Nike by 15.5% in the first quarter. Personal Capital Advisors Corp now owns 83,943 shares of the footwear maker’s stock valued at $4,758,000 after buying an additional 11,288 shares during the last quarter. Adviser Investments LLC acquired a new position in Nike in the first quarter valued at about $2,645,000. North Star Asset Management Inc. lifted its position in Nike by 7.8% in the first quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock valued at $3,162,000 after buying an additional 4,129 shares during the last quarter. Hartford Investment Management Co. lifted its position in Nike by 5.5% in the second quarter. Hartford Investment Management Co. now owns 360,722 shares of the footwear maker’s stock valued at $21,283,000 after buying an additional 18,759 shares during the last quarter. Finally, Summit Global Investments acquired a new position in Nike in the first quarter valued at about $508,000. 62.72% of the stock is currently owned by 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’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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