Nike Inc. (NKE) Given New $60.00 Price Target at Credit Suisse Group AG
Nike Inc. (NYSE:NKE) had its price objective decreased by Credit Suisse Group AG from $63.00 to $60.00 in a research report sent to investors on Wednesday morning. Credit Suisse Group AG currently has an outperform rating on the footwear maker’s stock.
Several other analysts also recently commented on NKE. B. Riley reissued a buy rating and issued a $66.00 target price on shares of Nike in a research report on Monday, June 27th. Deutsche Bank AG restated a buy rating on shares of Nike in a research note on Sunday, July 17th. Vetr upgraded shares of Nike from a sell rating to a hold rating and set a $54.01 price objective for the company in a research note on Wednesday, August 3rd. Piper Jaffray Cos. set a $58.00 price objective on shares of Nike and gave the stock a hold rating in a research note on Thursday, September 22nd. Finally, FBR & Co restated a hold rating on shares of Nike in a research note on Thursday, June 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $64.35.
Shares of Nike (NYSE:NKE) traded down 0.24% during trading on Wednesday, hitting $53.12. 3,852,433 shares of the stock were exchanged. Nike has a 12-month low of $51.48 and a 12-month high of $68.19. The stock has a market cap of $89.12 billion, a price-to-earnings ratio of 24.59 and a beta of 0.52. The stock’s 50 day moving average is $56.71 and its 200-day moving average is $57.30.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The company earned $9.06 billion during the quarter. Nike had a net margin of 11.60% and a return on equity of 30.27%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 earnings per share. Equities research analysts anticipate that Nike will post $2.40 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio (DPR) is presently 28.83%.
In other news, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction dated Friday, July 1st. The shares were bought at an average cost of $55.09 per share, with a total value of $55,090.00. Following the completion of the transaction, the director now directly owns 23,682 shares of the company’s stock, valued at $1,304,641.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Hilary K. Krane sold 100,000 shares of the company’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 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 company insiders.
Institutional investors have recently modified their holdings of the company. SevenBridge Financial Group LLC purchased a new position in shares of Nike during the second quarter worth $100,000. CapWealth Advisors LLC raised its position 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 last quarter. Cribstone Capital Management LLC purchased a new position in shares of Nike during the second quarter worth $106,000. Brick & Kyle Associates raised its position 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 last quarter. Finally, Gierl Augustine Investment Management Inc raised its position 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 last quarter. 62.04% of the stock is currently owned by institutional investors.
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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