Nike’s (NKE) “Hold” Rating Reiterated at FBR & Co
FBR & Co restated their hold rating on shares of Nike, Inc. (NYSE:NKE) in a research report report published on Thursday morning. FBR & Co currently has a $53.00 price objective on the footwear maker’s stock.
Several other equities research analysts have also issued reports on NKE. Canaccord Genuity set a $51.00 price target on Nike and gave the company a hold rating in a research report on Friday, May 26th. Piper Jaffray Companies set a $50.00 price target on Nike and gave the company a hold rating in a research report on Thursday, June 1st. Zacks Investment Research lowered Nike from a hold rating to a sell rating in a research report on Friday, June 2nd. Vetr lowered Nike from a buy rating to a hold rating and set a $54.16 price target on the stock. in a research report on Monday, June 5th. Finally, Morgan Stanley reissued a neutral rating and set a $56.00 price target on shares of Nike in a research report on Wednesday, June 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $60.48.
Nike (NYSE:NKE) opened at 53.87 on Thursday. Nike has a 12 month low of $49.01 and a 12 month high of $60.53. The stock’s 50 day moving average is $55.88 and its 200-day moving average is $55.47. The stock has a market capitalization of $88.52 billion, a price-to-earnings ratio of 21.46 and a beta of 0.61.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. On average, equities research analysts expect that Nike will post $2.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be given a $0.18 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. Nike’s dividend payout ratio is currently 28.69%.
In related news, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which is available through this link. Also, insider Eric D. Sprunk sold 50,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $17,706,372. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock valued at $28,485,174 in the last 90 days. 3.90% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of NKE. Waldron LP lifted its position in shares of Nike by 90.8% during the 1st quarter. Waldron LP now owns 8,922 shares of the footwear maker’s stock worth $496,000 after buying an additional 4,246 shares during the period. IFC Holdings Incorporated FL raised its position in Nike by 471.2% in the 1st quarter. IFC Holdings Incorporated FL now owns 29,430 shares of the footwear maker’s stock valued at $1,642,000 after purchasing an additional 24,278 shares during the last quarter. Korea Investment CORP raised its position in Nike by 10.1% in the 1st quarter. Korea Investment CORP now owns 529,228 shares of the footwear maker’s stock valued at $29,494,000 after purchasing an additional 48,382 shares during the last quarter. Excalibur Management Corp bought a new position in Nike in the 1st quarter valued at $354,000. Finally, Chickasaw Capital Management LLC raised its position in Nike by 15.0% in the 1st quarter. Chickasaw Capital Management LLC now owns 52,790 shares of the footwear maker’s stock valued at $2,942,000 after purchasing an additional 6,880 shares during the last quarter. Institutional investors and hedge funds own 62.72% 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.
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