Nike Inc. (NKE) Given “Buy” Rating at Nomura
Nomura restated their buy rating on shares of Nike Inc. (NYSE:NKE) in a research report released on Tuesday morning. Nomura currently has a $60.00 price objective on the footwear maker’s stock, down from their previous price objective of $64.00.
Other research analysts have also issued research reports about the stock. Brean Capital cut their price objective on shares of Nike from $68.00 to $62.00 in a research report on Wednesday, June 29th. Deutsche Bank AG reaffirmed a buy rating on shares of Nike in a research report on Tuesday, May 31st. Vetr lowered shares of Nike from a strong-buy rating to a buy rating and set a $61.63 price objective for the company. in a research report on Monday, June 13th. Credit Suisse Group AG reaffirmed a buy rating and set a $68.00 price objective on shares of Nike in a research report on Thursday, June 16th. Finally, Jefferies Group reaffirmed a buy rating and set a $67.00 price objective (down previously from $74.00) on shares of Nike in a research report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. Nike presently has a consensus rating of Buy and an average price target of $64.54.
Shares of Nike (NYSE:NKE) opened at 55.34 on Tuesday. The firm has a market cap of $92.84 billion, a PE ratio of 25.62 and a beta of 0.52. Nike has a 12-month low of $51.48 and a 12-month high of $68.19. The stock’s 50 day moving average price is $56.79 and its 200 day moving average price is $57.33.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.17. The business earned $9.06 billion during the quarter. Nike had a net margin of 11.61% and a return on equity of 29.57%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.34 EPS. On average, equities research analysts predict that Nike will post $2.40 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio (DPR) is presently 29.63%.
In related news, Director John C. Lechleiter bought 1,000 shares of Nike stock in a transaction that occurred on Friday, July 1st. The stock was acquired at an average price of $55.09 per share, with a total value of $55,090.00. Following the acquisition, the director now owns 23,682 shares of the company’s stock, valued at approximately $1,304,641.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of Nike 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 sale, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. SevenBridge Financial Group LLC bought a new stake in shares of Nike during the second quarter valued at approximately $100,000. CapWealth Advisors LLC increased its stake in shares of Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock valued at $104,000 after buying an additional 1,100 shares during the last quarter. Cribstone Capital Management LLC bought a new stake in shares of Nike during the second quarter valued at approximately $106,000. Brick & Kyle Associates increased its stake in shares of Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock valued at $111,000 after buying an additional 200 shares during the last quarter. Finally, Gierl Augustine Investment Management Inc increased its stake in shares of 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. 62.04% of the stock is owned by institutional investors and hedge funds.
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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