Nike Inc. (NKE) PT Set at $65.00 by Jefferies Group
Nike Inc. (NYSE:NKE) has been given a $65.00 price target by analysts at Jefferies Group in a report released on Wednesday. The firm presently has a a “buy” rating on the footwear maker’s stock. Jefferies Group’s target price suggests a potential upside of 24.62% from the stock’s previous close.
Several other research analysts also recently commented on NKE. Deutsche Bank AG reissued a “buy” rating on shares of Nike in a research note on Tuesday, May 31st. Morgan Stanley downgraded Nike from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $69.00 to $60.00 in a research note on Wednesday, June 1st. Bank of America Corp. downgraded Nike from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $72.00 to $60.00 in a research note on Wednesday, June 1st. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $61.63 target price for the company. in a research note on Monday, June 13th. Finally, Zacks Investment Research downgraded Nike from a “hold” rating to a “sell” rating in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $64.35.
Shares of Nike (NYSE:NKE) opened at 52.16 on Wednesday. Nike has a 12 month low of $51.48 and a 12 month high of $68.19. The company’s 50 day moving average is $56.63 and its 200-day moving average is $57.26. The firm has a market cap of $87.50 billion, a PE ratio of 24.15 and a beta of 0.52.
Nike (NYSE:NKE) last issued 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 firm earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.34 EPS. Equities research analysts predict that Nike will post $2.38 EPS for the current year.
The firm also recently declared 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. The ex-dividend date is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. Nike’s dividend payout ratio (DPR) is presently 28.83%.
In other news, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the completion of the sale, the executive vice president now owns 310,795 shares in the company, valued at approximately $17,712,207.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total value of $4,198,194.00. Following the sale, the executive vice president now 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. Insiders own 3.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Montrusco Bolton Investments Inc. increased its stake in shares of Nike by 104.8% in the first quarter. Montrusco Bolton Investments Inc. now owns 153,349 shares of the footwear maker’s stock worth $9,419,000 after buying an additional 78,461 shares during the period. Wendell David Associates Inc. boosted its position in shares of Nike by 0.4% in the first quarter. Wendell David Associates Inc. now owns 264,034 shares of the footwear maker’s stock worth $16,106,000 after buying an additional 1,160 shares in the last quarter. UMB Bank N A MO boosted its position in shares of Nike by 6.9% in the first quarter. UMB Bank N A MO now owns 251,490 shares of the footwear maker’s stock worth $15,459,000 after buying an additional 16,315 shares in the last quarter. Windward Capital Management Co. CA boosted its position in shares of Nike by 1.7% in the first quarter. Windward Capital Management Co. CA now owns 406,958 shares of the footwear maker’s stock worth $25,016,000 after buying an additional 6,936 shares in the last quarter. Finally, OLD National Bancorp IN boosted its position in shares of Nike by 5.1% in the first quarter. OLD National Bancorp IN now owns 37,850 shares of the footwear maker’s stock worth $2,327,000 after buying an additional 1,848 shares in the last quarter. Hedge funds and other institutional investors own 62.04% of the company’s stock.
Nike Company Profile
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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