Nike Inc. (NKE) Upgraded to Strong-Buy at Vetr Inc.
Vetr upgraded shares of Nike Inc. (NYSE:NKE) from a buy rating to a strong-buy rating in a research report released on Tuesday. Vetr currently has $57.56 price objective on the footwear maker’s stock.
Several other research analysts also recently commented on NKE. Piper Jaffray Cos. reissued an overweight rating and set a $69.00 target price on shares of Nike in a research note on Monday, June 20th. Jefferies Group reaffirmed a buy rating and issued a $67.00 price objective (down previously from $74.00) on shares of Nike in a research note on Tuesday, June 21st. Buckingham Research reaffirmed a buy rating and issued a $70.00 price objective on shares of Nike in a research note on Tuesday, June 21st. BB&T Corp. reaffirmed a buy rating and issued a $70.00 price objective (down previously from $74.00) on shares of Nike in a research note on Tuesday, June 21st. Finally, B. Riley reaffirmed a buy rating and issued a $66.00 price objective on shares of Nike in a research note on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $63.97.
Shares of Nike (NYSE:NKE) opened at 51.22 on Tuesday. Nike has a one year low of $50.96 and a one year high of $68.19. The firm’s 50-day moving average is $54.35 and its 200 day moving average is $56.26. The firm has a market capitalization of $85.64 billion, a P/E ratio of 23.11 and a beta of 0.56.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The firm earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm’s 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. Equities research analysts predict that Nike will post $2.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were issued a $0.16 dividend. 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 currently 28.83%.
In related news, EVP John F. Slusher sold 72,696 shares of the 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 transaction, the executive vice president now directly owns 231,861 shares in the company, valued at approximately $13,389,972.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John C. Lechleiter bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was purchased at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the completion of the acquisition, the director now owns 27,560 shares in the company, valued at $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. SevenBridge Financial Group LLC purchased a new position in shares of Nike during the second quarter worth about $100,000. CapWealth Advisors LLC boosted 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 in the last quarter. Cribstone Capital Management LLC purchased a new position in shares of Nike during the second quarter worth about $106,000. Gierl Augustine Investment Management Inc boosted 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 in the last quarter. Finally, CWM LLC boosted its position in shares of Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares in the last quarter. Institutional investors own 62.08% of the company’s stock.
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.