Buckingham Research set a $64.00 price target on Nike, Inc. (NYSE:NKE) in a research note issued to investors on Tuesday, October 17th. The brokerage currently has a buy rating on the footwear maker’s stock.
Several other research firms have also recently commented on NKE. Nomura reaffirmed a buy rating and issued a $60.00 price target on shares of Nike in a report on Friday, June 30th. Vetr raised Nike from a buy rating to a strong-buy rating and set a $57.97 price target for the company in a report on Wednesday, October 4th. Telsey Advisory Group cut 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. Cowen and Company increased their price target on Nike from $53.00 to $54.00 and gave the company a market perform rating in a report on Friday, June 30th. Finally, Jefferies Group LLC cut Nike from a buy rating to a hold rating and cut their price target for the company from $75.00 to $60.00 in a report on Monday, August 21st. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and nineteen have given a buy rating to the stock. Nike has a consensus rating of Hold and a consensus target price of $58.90.
Nike (NYSE NKE) opened at 55.96 on Tuesday. Nike has a 12-month low of $49.01 and a 12-month high of $60.53. The firm has a 50-day moving average price of $52.64 and a 200-day moving average price of $54.66. The company has a market cap of $91.30 billion, a P/E ratio of 23.82 and a beta of 0.61.
Nike (NYSE:NKE) last announced 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 31.88% 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 quarter in the prior year, the firm earned $0.73 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Nike will post $2.33 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, August 31st. Nike’s dividend payout ratio (DPR) is 30.64%.
In related news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the transaction, the director now directly owns 25,660 shares in the company, valued at approximately $1,371,527. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.90% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Waldron LP raised its holdings in Nike by 90.8% in the 1st quarter. Waldron LP now owns 8,922 shares of the footwear maker’s stock valued at $496,000 after acquiring an additional 4,246 shares during the last quarter. Wealth Architects LLC raised its holdings in Nike by 8.1% in the 1st quarter. Wealth Architects LLC now owns 23,161 shares of the footwear maker’s stock valued at $1,291,000 after acquiring an additional 1,728 shares during the last quarter. Eagle Ridge Investment Management raised its holdings in Nike by 9.3% in the 1st quarter. Eagle Ridge Investment Management now owns 126,975 shares of the footwear maker’s stock valued at $7,076,000 after acquiring an additional 10,820 shares during the last quarter. Rhumbline Advisers raised its holdings in Nike by 1.7% in the 1st quarter. Rhumbline Advisers now owns 2,259,668 shares of the footwear maker’s stock valued at $125,931,000 after acquiring an additional 37,670 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Nike by 443.2% in the 1st quarter. First Trust Advisors LP now owns 269,270 shares of the footwear maker’s stock valued at $15,006,000 after acquiring an additional 219,697 shares during the last quarter. Hedge funds and other institutional investors own 62.51% 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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