Nike, Inc. (NKE) Earns Neutral Rating from Piper Jaffray Companies
Piper Jaffray Companies reiterated their neutral rating on shares of Nike, Inc. (NYSE:NKE) in a report released on Wednesday. Piper Jaffray Companies currently has a $50.00 price objective on the footwear maker’s stock, down from their prior price objective of $53.00.
NKE has been the subject of a number of other reports. Goldman Sachs Group, Inc. (The) set a $62.00 price objective on Nike and gave the stock a buy rating in a report on Friday, June 16th. Vetr upgraded Nike from a hold rating to a buy rating and set a $55.06 price objective for the company in a report on Thursday, June 15th. Berenberg Bank reiterated a buy rating and issued a $70.00 price objective on shares of Nike in a report on Wednesday, June 14th. Deutsche Bank AG set a $63.00 price objective on Nike and gave the stock a buy rating in a report on Tuesday, June 20th. Finally, Credit Suisse Group set a $63.00 price objective on Nike and gave the stock a buy rating in a report on Saturday, June 24th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $59.25.
Nike (NYSE NKE) traded down 1.48% during mid-day trading on Wednesday, reaching $51.85. The company had a trading volume of 12,189,882 shares. Nike has a 12-month low of $49.01 and a 12-month high of $60.53. The stock has a 50 day moving average price of $55.57 and a 200-day moving average price of $55.39. The stock has a market capitalization of $84.99 billion, a P/E ratio of 22.07 and a beta of 0.61.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Equities analysts anticipate that Nike will post $2.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.39%. Nike’s payout ratio is 30.64%.
In other news, CAO Hilary K. Krane sold 28,072 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the completion of the transaction, the chief accounting officer now owns 177,723 shares in the company, valued at $10,325,706.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Trevor A. Edwards sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total value of $11,526,000.00. Following the transaction, the insider now owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 362,117 shares of company stock valued at $20,935,321. Company insiders own 3.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Janus Henderson Group PLC grew its position in Nike by 4,252.6% in the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after acquiring an additional 16,237,557 shares in the last quarter. Jennison Associates LLC grew its position in Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after acquiring an additional 13,953,567 shares in the last quarter. Capital World Investors grew its position in Nike by 58.7% in the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after acquiring an additional 8,058,601 shares in the last quarter. OppenheimerFunds Inc. grew its position in Nike by 7,020.1% in the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after acquiring an additional 5,274,656 shares in the last quarter. Finally, Orbis Allan Gray Ltd purchased a new position in Nike in the second quarter worth about $226,588,000. Institutional investors own 62.63% 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.
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.