Goldman Sachs Group, Inc. (The) lowered shares of Nike, Inc. (NYSE:NKE) from a buy rating to a neutral rating in a research note issued to investors on Thursday, October 19th, MarketBeat.com reports. The firm currently has $54.00 target price on the footwear maker’s stock, up from their prior target price of $52.30.
Several other equities analysts have also recently weighed in on NKE. Piper Jaffray Companies restated a neutral rating and issued a $50.00 price objective on shares of Nike in a report on Wednesday, June 21st. Morgan Stanley restated an equal weight rating and issued a $56.00 price objective on shares of Nike in a report on Wednesday, June 21st. Telsey Advisory Group reduced their price target on Nike from $66.00 to $62.00 and set an outperform rating for the company in a report on Thursday, June 22nd. Canaccord Genuity set a $51.00 price target on Nike and gave the stock a hold rating in a report on Thursday, June 22nd. Finally, Credit Suisse Group set a $63.00 price target on Nike and gave the stock a buy rating in a report on Saturday, June 24th. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and nineteen have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $58.90.
Nike (NYSE:NKE) opened at 55.96 on Thursday. The stock has a 50 day moving average price of $52.64 and a 200-day moving average price of $54.66. Nike has a 12-month low of $49.01 and a 12-month high of $60.53. The stock has a market capitalization of $91.30 billion, a P/E ratio of 23.82 and a beta of 0.61.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. Equities research analysts expect that Nike will post $2.33 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, August 31st. Nike’s dividend payout ratio is presently 30.64%.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $1,371,527. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Royal Bank of Scotland Group PLC raised its position in shares of Nike by 6.2% during the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after buying an additional 12,201 shares in the last quarter. North Star Asset Management Inc. raised its position in shares of Nike by 7.8% during the 1st quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock valued at $3,162,000 after buying an additional 4,129 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of Nike by 4.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after buying an additional 4,030 shares in the last quarter. Hartford Investment Management Co. raised its position in shares of Nike by 5.5% during the 2nd quarter. Hartford Investment Management Co. now owns 360,722 shares of the footwear maker’s stock valued at $21,283,000 after buying an additional 18,759 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its position in shares of Nike by 20.0% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after buying an additional 17,285 shares in the last quarter. Hedge funds and other institutional investors own 62.51% 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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