Nike Inc. (NKE) Given “Hold” Rating at Wells Fargo & Co.
Nike Inc. (NYSE:NKE)‘s stock had its “hold” rating reissued by equities researchers at Wells Fargo & Co. in a report released on Thursday.
Several other research analysts have also recently weighed in on NKE. B. Riley reissued a “buy” rating and set a $66.00 price objective on shares of Nike in a report on Monday, June 27th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Nike in a report on Sunday, July 17th. Vetr raised shares of Nike from a “sell” rating to a “hold” rating and set a $54.01 target price for the company in a report on Wednesday, August 3rd. Piper Jaffray Cos. set a $58.00 target price on shares of Nike and gave the company a “hold” rating in a report on Thursday, September 22nd. Finally, FBR & Co reaffirmed a “hold” rating on shares of Nike in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $64.54.
Shares of Nike (NYSE:NKE) opened at 52.12 on Thursday. Nike has a 12-month low of $51.48 and a 12-month high of $68.19. The company has a market capitalization of $87.14 billion, a P/E ratio of 23.52 and a beta of 0.56. The stock’s 50 day moving average is $56.14 and its 200-day moving average is $56.95.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share 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 firm earned $9.06 billion during the quarter. During the same period in the previous year, the firm earned $1.34 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts anticipate that Nike will post $2.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s dividend payout ratio is presently 28.83%.
In other Nike news, Director John C. Lechleiter bought 1,000 shares of the business’s stock in a transaction on Friday, September 30th. The shares were acquired at an average price 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 310,795 shares in the company, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock worth $1,679,937,000 after buying an additional 13,136,502 shares during the period. Lone Pine Capital LLC increased its position in Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock worth $1,010,475,000 after buying an additional 6,309,324 shares during the period. Emerald Acquisition Ltd. acquired a new position in Nike during the second quarter worth approximately $197,303,000. Janus Capital Management LLC increased its position in Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock worth $1,405,003,000 after buying an additional 3,203,177 shares during the period. Finally, Vontobel Asset Management Inc. acquired a new position in Nike during the second quarter worth approximately $175,750,000. 62.04% of the stock is currently owned by institutional investors and hedge funds.
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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