Nike Inc. (NKE) Now Covered by Guggenheim
Guggenheim started coverage on shares of Nike Inc. (NYSE:NKE) in a report released on Friday. The brokerage set a “buy” rating on the footwear maker’s stock.
Other analysts have also issued research reports about the stock. B. Riley reissued a “buy” rating and issued a $66.00 price target on shares of Nike in a research report on Wednesday, June 22nd. Deutsche Bank AG reaffirmed a “buy” rating on shares of Nike in a research note on Sunday, July 17th. Canaccord Genuity reaffirmed a “hold” rating and set a $52.00 price objective on shares of Nike in a research note on Thursday. BB&T Corp. reaffirmed a “buy” rating and set a $70.00 price objective (down previously from $74.00) on shares of Nike in a research note on Tuesday, June 21st. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $61.00 price objective (down previously from $75.00) on shares of Nike in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike presently has a consensus rating of “Buy” and an average target price of $64.35.
Shares of Nike (NYSE:NKE) opened at 52.16 on Friday. Nike has a one year low of $51.48 and a one year high of $68.19. The company has a market capitalization of $87.50 billion, a PE ratio of 24.15 and a beta of 0.52. The stock has a 50 day moving average of $56.63 and a 200-day moving average of $57.26.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company had revenue of $9.06 billion for the quarter. During the same period last year, the firm earned $1.34 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Nike will post $2.38 earnings per share for the current fiscal year.
The business 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 dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s payout ratio is currently 28.83%.
In other news, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction that occurred 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 sale, the executive vice president now owns 231,861 shares in the company, valued at $13,389,972.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the sale, the executive vice president now owns 310,795 shares in the company, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. CapWealth Advisors LLC boosted its stake in 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. Brick & Kyle Associates raised its position in 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. SevenBridge Financial Group LLC acquired a new position in Nike during the second quarter worth $100,000. Cribstone Capital Management LLC acquired a new position in Nike during the second quarter worth $106,000. Finally, Gierl Augustine Investment Management Inc raised its position in 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. Hedge funds and other institutional investors 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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