Nike Inc. (NKE) PT Lowered to $67.00
Nike Inc. (NYSE:NKE) had its target price reduced by stock analysts at Telsey Advisory Group from $69.00 to $67.00 in a note issued to investors on Wednesday. The firm presently has an “outperform” rating on the footwear maker’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 21.07% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. Jefferies Group set a $65.00 target price on shares of Nike and gave the stock a “buy” rating in a research report on Wednesday. FBR & Co cut their target price on shares of Nike from $63.00 to $55.00 and set a “mkt perform” rating for the company in a research report on Wednesday. Citigroup Inc. increased their target price on shares of Nike from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday. Brean Capital lowered shares of Nike from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays PLC cut their target price on shares of Nike from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $64.67.
Nike (NYSE:NKE) opened at 55.34 on Wednesday. Nike has a 52-week low of $51.48 and a 52-week high of $68.19. The company’s 50-day moving average is $56.79 and its 200-day moving average is $57.33. The firm has a market capitalization of $92.84 billion, a PE ratio of 25.62 and a beta of 0.52.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.17. Nike had a net margin of 11.61% and a return on equity of 29.57%. The business earned $9.06 billion during the quarter. During the same quarter last year, the business posted $1.34 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts forecast that Nike will post $2.40 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio (DPR) is currently 29.63%.
In related news, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were acquired at an average price of $55.09 per share, for a total transaction of $55,090.00. Following the completion of the acquisition, the director now directly owns 23,682 shares in the company, valued at approximately $1,304,641.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the completion of the sale, the executive vice president now owns 231,861 shares in the company, 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 corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. SevenBridge Financial Group LLC acquired a new stake in shares of Nike during the second quarter worth approximately $100,000. CapWealth Advisors LLC boosted 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 worth $104,000 after buying an additional 1,100 shares during the period. Cribstone Capital Management LLC acquired a new stake in shares of Nike during the second quarter worth approximately $106,000. Brick & Kyle Associates boosted 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 worth $111,000 after buying an additional 200 shares during the period. Finally, Gierl Augustine Investment Management Inc boosted 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 worth $111,000 after buying an additional 6 shares during the period. Institutional investors and hedge funds own 62.04% 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 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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