Nike Inc. (NKE) Rating Reiterated by Piper Jaffray Cos.
Nike Inc. (NYSE:NKE)‘s stock had its “neutral” rating restated by stock analysts at Piper Jaffray Cos. in a research report issued to clients and investors on Wednesday. They currently have a $53.00 target price on the footwear maker’s stock. Piper Jaffray Cos.’s price objective indicates a potential upside of 1.07% from the company’s previous close.
Several other equities analysts have also commented on NKE. Robert W. Baird reiterated an “outperform” rating and issued a $67.00 target price on shares of Nike in a research note on Wednesday, July 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price on shares of Nike in a research note on Friday, August 26th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $62.00 target price on shares of Nike in a research note on Tuesday, September 27th. Vetr lowered Nike from a “hold” rating to a “sell” rating and set a $54.43 target price for the company. in a research note on Monday, August 15th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $66.00 target price on shares of Nike in a research note on Sunday, September 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike presently has a consensus rating of “Buy” and an average price target of $63.66.
Shares of Nike (NYSE:NKE) traded up 1.20% during trading on Wednesday, hitting $52.44. The stock had a trading volume of 9,285,381 shares. The stock has a 50-day moving average of $55.45 and a 200 day moving average of $56.62. Nike has a 12-month low of $51.48 and a 12-month high of $68.19. The firm has a market cap of $87.68 billion, a price-to-earnings ratio of 23.66 and a beta of 0.56.
Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The business had revenue of $9.06 billion for the quarter. During the same quarter in the prior year, the company earned $1.34 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that Nike will post $2.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were given a $0.16 dividend. The ex-dividend date was Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. Nike’s dividend payout ratio (DPR) is presently 28.83%.
In other news, 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 value of $5,699,000.00. Following the completion of the sale, the executive vice president now owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now directly 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. 3.90% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares during the period. Lone Pine Capital LLC boosted its stake in shares of Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock valued at $1,010,475,000 after buying an additional 6,309,324 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Nike during the second quarter valued at approximately $197,303,000. Janus Capital Management LLC boosted its stake in shares of Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock valued at $1,405,003,000 after buying an additional 3,203,177 shares during the period. Finally, Vontobel Asset Management Inc. acquired a new stake in shares of Nike during the second quarter valued at approximately $175,750,000. 62.04% of the stock is 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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