Nike (NYSE:NKE) had its target price upped by Canaccord Genuity from $50.00 to $64.00 in a report released on Tuesday, December 19th, Marketbeat.com reports. The firm currently has a hold rating on the footwear maker’s stock.
Other equities research analysts also recently issued research reports about the stock. Vetr upgraded shares of Nike from a hold rating to a buy rating and set a $59.74 price target for the company in a research report on Monday, August 21st. Robert W. Baird restated a buy rating and issued a $65.00 price target on shares of Nike in a research report on Sunday, September 10th. Stifel Nicolaus restated a buy rating and issued a $66.00 price target on shares of Nike in a research report on Thursday, August 24th. Goldman Sachs Group restated a buy rating and issued a $58.00 price target (down previously from $63.00) on shares of Nike in a research report on Monday, August 21st. Finally, Morgan Stanley reiterated a buy rating and issued a $64.00 target price (down previously from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-one have assigned a buy rating to the stock. Nike presently has an average rating of Hold and a consensus price target of $64.40.
Nike (NKE) opened at $64.29 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The company has a market cap of $104,890.00, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.90 and a beta of 0.64. Nike has a 1 year low of $50.35 and a 1 year high of $65.18.
Nike (NYSE:NKE) last issued its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. sell-side analysts forecast that Nike will post 2.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. Nike’s dividend payout ratio (DPR) is presently 34.63%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $65.00, for a total value of $8,775,000.00. Following the sale, the chairman now directly owns 1,502,830 shares in the company, valued at approximately $97,683,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the sale, the chief operating officer now owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Insiders sold a total of 967,896 shares of company stock worth $60,257,267 over the last quarter. 3.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Willingdon Wealth Management bought a new position in shares of Nike during the 3rd quarter worth about $114,000. Asset Planning Services Ltd. lifted its holdings in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the period. Atlantic Trust LLC bought a new position in shares of Nike during the 2nd quarter worth about $136,000. Howe & Rusling Inc. lifted its holdings in shares of Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after acquiring an additional 2,329 shares during the period. Finally, Kistler Tiffany Companies LLC lifted its holdings in shares of Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after acquiring an additional 1,209 shares during the period. Institutional investors own 62.67% of the company’s stock.
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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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