Nike Inc. (NKE) Given Buy Rating at Stifel Nicolaus
Nike Inc. (NYSE:NKE)‘s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a report released on Wednesday. They presently have a $68.00 target price on the footwear maker’s stock. Stifel Nicolaus’ target price indicates a potential upside of 22.88% from the stock’s current price.
Several other brokerages also recently weighed in on NKE. B. Riley reaffirmed a “buy” rating and set a $66.00 target price on shares of Nike in a research note on Monday, June 27th. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Susquehanna reiterated a “positive” rating and set a $74.00 price target on shares of Nike in a research report on Wednesday, June 22nd. Cowen and Company reiterated a “buy” rating on shares of Nike in a research report on Wednesday, June 22nd. Finally, FBR & Co lowered their price target on Nike from $63.00 to $55.00 and set a “mkt perform” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Nike currently has an average rating of “Buy” and a consensus price target of $64.54.
Nike (NYSE:NKE) opened at 55.34 on Wednesday. Nike has a one year low of $51.48 and a one year high of $68.19. The firm has a market cap of $92.84 billion, a price-to-earnings ratio of 25.62 and a beta of 0.52. The company’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 earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.17. The firm had revenue of $9.06 billion for the quarter. Nike had a return on equity of 29.57% and a net margin of 11.61%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. On average, analysts anticipate that Nike will post $2.40 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, September 1st. Nike’s payout ratio is currently 29.63%.
In other Nike news, Director John C. Lechleiter bought 1,000 shares of Nike stock in a transaction dated Friday, July 1st. The shares were acquired at an average cost of $55.09 per share, with a total value of $55,090.00. Following the acquisition, the director now directly owns 23,682 shares of the company’s stock, valued at $1,304,641.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Hilary K. Krane sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the completion of the transaction, the executive vice president now directly owns 310,795 shares in the company, valued at $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares in the last quarter. Lone Pine Capital LLC increased its position in Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock valued at $1,010,475,000 after buying an additional 6,309,324 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Nike during the second quarter valued at about $197,303,000. Janus Capital Management LLC increased its position in Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock valued at $1,405,003,000 after buying an additional 3,203,177 shares in the last quarter. Finally, Vontobel Asset Management Inc. purchased a new position in Nike during the second quarter valued at about $175,750,000. 62.04% of the stock is currently 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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