Nike Inc. (NKE) Rating Reiterated by DA Davidson
Nike Inc. (NYSE:NKE)‘s stock had its “buy” rating restated by equities researchers at DA Davidson in a research report issued on Wednesday. They currently have a $66.00 price objective on the footwear maker’s stock. DA Davidson’s target price points to a potential upside of 26.53% from the company’s current price.
Other equities research analysts have also issued reports about the stock. B. Riley reiterated a “buy” rating and set a $66.00 target price on shares of Nike in a research note on Wednesday, June 22nd. Deutsche Bank AG reiterated a “buy” rating on shares of Nike in a research note on Sunday, July 17th. Canaccord Genuity reiterated a “neutral” rating and set a $56.00 target price (down from $57.00) on shares of Nike in a research note on Wednesday, June 29th. BB&T Corp. reiterated a “buy” rating and set a $70.00 target price (down from $74.00) on shares of Nike in a research note on Tuesday, June 21st. Finally, Citigroup Inc. reiterated a “buy” rating and set a $61.00 target price (down from $75.00) on shares of Nike in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the stock. Nike has an average 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 has a 50 day moving average price of $56.63 and a 200-day moving average price of $57.26. The stock has a market cap of $87.50 billion, a P/E ratio of 24.15 and a beta of 0.52.
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 analysts’ consensus estimates of $0.56 by $0.17. The business earned $9.06 billion during the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. Nike’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 earnings per share. On average, equities research analysts predict that Nike will post $2.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. Nike’s dividend payout ratio (DPR) is presently 28.83%.
In related news, EVP John F. Slusher sold 72,696 shares of the firm’s 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 transaction, the executive vice president now owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. SevenBridge Financial Group LLC acquired a new position in shares of Nike during the second quarter valued at about $100,000. CapWealth Advisors LLC raised 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 in the last quarter. Cribstone Capital Management LLC purchased a new stake in Nike during the second quarter valued at approximately $106,000. Brick & Kyle Associates raised its stake in Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock valued at $111,000 after buying an additional 200 shares in the last quarter. Finally, Gierl Augustine Investment Management Inc raised its stake 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 valued at $111,000 after buying an additional 6 shares in the last quarter. 62.04% of the stock is owned by hedge funds and other 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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