Nike Inc. (NYSE:NKE) Receives Consensus Rating of “Buy” from Brokerages
Shares of Nike Inc. (NYSE:NKE) have been assigned an average rating of “Buy” from the thirty-three ratings firms that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and twenty-two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $64.06.
A number of research firms have recently weighed in on NKE. Vetr cut Nike from a “hold” rating to a “sell” rating and set a $54.86 price target for the company. in a report on Monday, July 11th. Barclays PLC set a $70.00 price target on Nike and gave the stock a “buy” rating in a report on Monday, September 12th. Citigroup Inc. increased their price target on Nike from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, September 28th. B. Riley restated a “neutral” rating and set a $55.00 target price (down from $62.00) on shares of Nike in a report on Monday, September 26th. Finally, OTR Global cut Nike to a “positive” rating in a report on Thursday, June 16th.
In other Nike news, EVP John F. Slusher sold 72,696 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the completion of the sale, the executive vice president now owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John C. Lechleiter purchased 1,000 shares of the stock in a transaction on Friday, September 30th. The shares were purchased at an average cost of $52.72 per share, with a total value of $52,720.00. Following the transaction, the director now owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Capstone Asset Management Co. increased its stake in Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock worth $21,220,000 after buying an additional 29,538 shares during the period. Dividend Assets Capital LLC increased its stake in Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock worth $94,538,000 after buying an additional 43,935 shares during the period. National Pension Service increased its stake in Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock worth $43,599,000 after buying an additional 27,918 shares during the period. Gofen & Glossberg LLC IL increased its stake in Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock worth $16,806,000 after buying an additional 2,890 shares during the period. Finally, AMP Capital Investors Ltd purchased a new stake in Nike during the first quarter worth about $37,460,000. 62.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Nike (NYSE:NKE) traded down 0.534% during trading on Tuesday, reaching $52.389. 4,163,878 shares of the company’s stock were exchanged. Nike has a 12-month low of $51.48 and a 12-month high of $68.20. The company has a market capitalization of $87.59 billion, a P/E ratio of 23.641 and a beta of 0.56. The stock has a 50-day moving average price of $56.41 and a 200 day moving average price of $57.06.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.34 earnings per share. Equities analysts expect that Nike will post $2.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.22%. Nike’s payout ratio is currently 28.83%.
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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