Jefferies Group LLC cut shares of Nike, Inc. (NYSE:NKE) to a buy rating in a research note released on Tuesday.

NKE has been the topic of several other research reports. Piper Jaffray Companies set a $50.00 price objective on Nike and gave the stock a hold rating in a report on Saturday, July 1st. BidaskClub raised Nike from a sell rating to a hold rating in a report on Wednesday, June 14th. Vetr lowered Nike from a buy rating to a hold rating and set a $54.16 price objective on the stock. in a report on Monday, June 5th. Robert W. Baird reissued an outperform rating and set a $62.00 price objective on shares of Nike in a report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) reissued a buy rating and set a $58.00 price objective (down previously from $63.00) on shares of Nike in a report on Monday, August 21st. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $60.42.

Nike (NYSE NKE) opened at 52.73 on Tuesday. The stock has a market cap of $86.65 billion, a P/E ratio of 21.01 and a beta of 0.59. The company has a 50-day moving average of $58.03 and a 200-day moving average of $55.80. Nike has a 52 week low of $49.01 and a 52 week high of $60.53.

Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. On average, analysts predict that Nike will post $2.42 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. Nike’s dividend payout ratio (DPR) is presently 28.69%.

In other Nike news, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total transaction of $339,886.80. Following the transaction, the chief financial officer now owns 34,976 shares in the company, valued at approximately $2,077,574.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 50,000 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $59.00, for a total value of $2,950,000.00. Following the transaction, the insider now owns 300,108 shares in the company, valued at approximately $17,706,372. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 492,360 shares of company stock worth $28,485,174. Corporate insiders own 3.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Asset Planning Services Ltd. raised its position in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after buying an additional 7 shares during the period. Stearns Financial Services Group raised its position in Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after buying an additional 17 shares during the period. Accredited Investors Inc. raised its position in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after buying an additional 19 shares during the period. Montecito Bank & Trust raised its position in Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after buying an additional 24 shares during the period. Finally, Smith Shellnut Wilson LLC ADV raised its position in Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 62.71% 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’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Analyst Recommendations for Nike (NYSE:NKE)

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