JPMorgan Chase & Co. set a $58.00 price target on Nike (NYSE:NKE) in a research report sent to investors on Tuesday, January 2nd. The firm currently has a neutral rating on the footwear maker’s stock.
NKE has been the topic of a number of other reports. Goldman Sachs Group set a $62.00 price target on Nike and gave the company a neutral rating in a research note on Thursday, December 28th. Buckingham Research initiated coverage on Nike in a research note on Sunday, December 31st. They issued a buy rating and a $72.00 price target on the stock. Bank of America set a $42.00 price target on Nike and gave the company a sell rating in a research note on Friday, December 22nd. Morgan Stanley set a $64.00 price target on Nike and gave the company a buy rating in a research note on Monday, September 18th. Finally, Vetr upgraded Nike from a buy rating to a strong-buy rating and set a $59.09 price target on the stock in a research note on Wednesday, September 6th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $64.40.
Shares of Nike (NKE) traded up $0.38 during mid-day trading on Tuesday, hitting $64.67. The company’s stock had a trading volume of 5,135,670 shares, compared to its average volume of 9,460,000. Nike has a one year low of $50.35 and a one year high of $65.18. The stock has a market cap of $105,510.00, a P/E ratio of 28.00, a P/E/G ratio of 2.92 and a beta of 0.64. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts expect that Nike will post 2.25 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Nike’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 1st. Nike’s payout ratio is 34.63%.
In related news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares in the company, valued at $90,124,612.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the transaction, the chief operating officer now owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 967,896 shares of company stock valued at $60,257,267. Insiders own 3.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NKE. Willingdon Wealth Management purchased a new stake in Nike during the third quarter valued at about $114,000. Asset Planning Services Ltd. boosted its position in shares of Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after buying an additional 7 shares during the period. Atlantic Trust LLC purchased a new stake in shares of Nike in the second quarter worth about $136,000. Howe & Rusling Inc. boosted its position in shares of Nike by 751.3% in the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after buying an additional 2,329 shares during the period. Finally, Kistler Tiffany Companies LLC boosted its position in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after buying an additional 1,209 shares during the period. Hedge funds and other 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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