Nike Inc. (NKE) Given Hold Rating at Brean Capital
Nike Inc. (NYSE:NKE)‘s stock had its “hold” rating reissued by equities research analysts at Brean Capital in a note issued to investors on Tuesday.
Other equities research analysts also recently issued research reports about the stock. B. Riley reaffirmed a “buy” rating and set a $66.00 price target on shares of Nike in a research note on Wednesday, June 22nd. BB&T Corp. reaffirmed a “buy” rating and set a $70.00 price target (down previously from $74.00) on shares of Nike in a research note on Tuesday, June 21st. Buckingham Research reaffirmed a “buy” rating and set a $70.00 price target on shares of Nike in a research note on Tuesday, June 21st. Jefferies Group reaffirmed a “buy” rating and set a $67.00 price target (down previously from $74.00) on shares of Nike in a research note on Tuesday, June 21st. Finally, Vetr downgraded shares of Nike from a “strong-buy” rating to a “buy” rating and set a $55.37 price target on the stock. in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $63.99.
Shares of Nike (NYSE:NKE) traded up 0.78% during midday trading on Tuesday, hitting $51.43. 3,146,947 shares of the stock were exchanged. The stock has a market cap of $85.99 billion, a P/E ratio of 23.21 and a beta of 0.56. Nike has a 12 month low of $50.96 and a 12 month high of $68.19. The firm has a 50 day moving average of $54.56 and a 200-day moving average of $56.33.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.17. The firm 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 revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.34 EPS. Equities research analysts anticipate that Nike will post $2.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s dividend payout ratio is presently 28.83%.
In other 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 transaction, the executive vice president now directly 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 accessible through this link. Also, Director John C. Lechleiter acquired 1,000 shares of the stock in a transaction dated Friday, September 30th. The shares were bought at an average cost of $52.72 per share, with a total value of $52,720.00. Following the completion of 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. Insiders own 3.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. CapWealth Advisors LLC increased its position in shares of Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares during the period. SevenBridge Financial Group LLC acquired a new position in shares of Nike during the second quarter worth about $100,000. Cribstone Capital Management LLC acquired a new position in shares of Nike during the second quarter worth about $106,000. Gierl Augustine Investment Management Inc increased its position in shares of Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares during the period. Finally, Banced Corp acquired a new position in shares of Nike during the second quarter worth about $258,000. 62.08% of the stock is owned by institutional investors and hedge funds.
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.
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