Nike Inc. (NKE) Stock Rating Reaffirmed by Robert W. Baird
Nike Inc. (NYSE:NKE)‘s stock had its “outperform” rating reaffirmed by equities researchers at Robert W. Baird in a research note issued on Wednesday. They currently have a $67.00 target price on the footwear maker’s stock. Robert W. Baird’s price objective would indicate a potential upside of 28.45% from the company’s previous close.
Several other equities research analysts have 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 cut Nike from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $69.00 to $60.00 in a research note on Wednesday, June 1st. Bank of America Corp. cut Nike from a “buy” rating to a “neutral” rating and lowered their price target for the company from $72.00 to $60.00 in a research note on Wednesday, June 1st. Vetr cut Nike from a “strong-buy” rating to a “buy” rating and set a $61.63 price target for the company. in a research note on Monday, June 13th. Finally, Zacks Investment Research cut Nike from a “hold” rating to a “sell” rating in a research note on Tuesday, June 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the stock. The stock 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. The company has a 50 day moving average of $56.63 and a 200-day moving average of $57.26. Nike has a 52 week low of $51.48 and a 52 week high of $68.19. The company has a market cap of $87.50 billion, a price-to-earnings ratio of 24.15 and a beta of 0.52.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The business earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The company’s quarterly 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. On average, equities research analysts expect that Nike will post $2.38 earnings per share for the current fiscal 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio is currently 28.83%.
In other news, EVP Hilary K. Krane sold 100,000 shares of the firm’s 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 sale, the executive vice president now owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was 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 directly owns 231,861 shares in the company, 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.
Several large investors have recently added to or reduced their stakes in the company. RKL Wealth Management LLC raised its stake in shares of Nike by 0.7% in the first quarter. RKL Wealth Management LLC now owns 87,744 shares of the footwear maker’s stock worth $5,394,000 after buying an additional 614 shares in the last quarter. St. Johns Investment Management Company LLC raised its stake in shares of Nike by 1.8% in the first quarter. St. Johns Investment Management Company LLC now owns 17,444 shares of the footwear maker’s stock worth $1,072,000 after buying an additional 302 shares in the last quarter. Chesley Taft & Associates LLC raised its stake in shares of Nike by 33.9% in the first quarter. Chesley Taft & Associates LLC now owns 118,979 shares of the footwear maker’s stock worth $7,314,000 after buying an additional 30,145 shares in the last quarter. IMS Capital Management raised its stake in shares of Nike by 12.9% in the first quarter. IMS Capital Management now owns 5,983 shares of the footwear maker’s stock worth $368,000 after buying an additional 685 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its stake in shares of Nike by 9.9% in the first quarter. DAVENPORT & Co LLC now owns 16,390 shares of the footwear maker’s stock worth $1,007,000 after buying an additional 1,471 shares in the last quarter. 62.04% of the stock is currently owned by institutional investors.
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.
Receive News & Stock Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related stocks with our FREE daily email newsletter.