Nike’s (NKE) “Hold” Rating Reiterated at Needham & Company LLC
Other analysts have also issued reports about the company. 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 target price for the company. in a report on Monday, June 5th. Robert W. Baird reaffirmed an outperform rating and issued a $62.00 target price on shares of Nike in a report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $58.00 target price (down from $63.00) on shares of Nike in a report on Monday, August 21st. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $59.12.
Nike (NYSE NKE) opened at 52.67 on Monday. The company has a market capitalization of $86.33 billion, a P/E ratio of 22.42 and a beta of 0.61. The company’s 50 day moving average price is $55.57 and its 200-day moving average price is $55.39. Nike has a 12-month low of $49.01 and a 12-month high of $60.53. Nike also was the target of some unusual options trading on Monday. Stock investors bought 14,842 put options on the company. This is an increase of 132% compared to the typical volume of 6,391 put options.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. Nike had a return on equity of 31.57% and a net margin of 11.47%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the company posted $0.73 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Equities analysts forecast that Nike will post $2.40 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is currently 30.64%.
In other Nike news, CFO Andrew Campion sold 5,722 shares of Nike stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the completion of the sale, the chief financial officer now directly owns 34,976 shares in the company, valued at $2,077,574.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. Insiders have sold 508,360 shares of company stock worth $29,340,374 over the last ninety days. 3.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Nike by 2.5% in the second quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock valued at $5,876,718,000 after purchasing an additional 2,452,993 shares in the last quarter. State Street Corp grew its holdings in shares of Nike by 1.4% in the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after purchasing an additional 835,003 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after purchasing an additional 2,375,447 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Nike by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after purchasing an additional 144,846 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after purchasing an additional 13,953,567 shares in the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.
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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