Wedbush restated their neutral rating on shares of Nike (NYSE:NKE) in a research note published on Friday, December 22nd. They currently have a $62.90 price target on the footwear maker’s stock, down from their prior price target of $64.77.
Other analysts also recently issued research reports about the stock. Stifel Nicolaus reissued a buy rating and issued a $66.00 price objective on shares of Nike in a report on Thursday, August 24th. DA Davidson reaffirmed a buy rating and set a $69.00 price target on shares of Nike in a report on Thursday, September 14th. Deutsche Bank reaffirmed a buy rating and set a $61.00 price target (down previously from $69.00) on shares of Nike in a report on Wednesday, September 13th. Vetr downgraded shares of Nike from a strong-buy rating to a buy rating and set a $58.87 price target for the company. in a report on Tuesday, September 12th. Finally, Robert W. Baird reaffirmed a buy rating and set a $65.00 price target on shares of Nike in a report on Sunday, September 10th. 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 company’s stock. The company has an average rating of Hold and a consensus price target of $64.40.
Nike (NYSE NKE) opened at $64.67 on Friday. Nike has a 52 week low of $50.35 and a 52 week high of $65.18. The company has a market cap of $105,510.00, a PE 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 announced its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. Nike’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 EPS. equities analysts forecast that Nike will post 2.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were paid a dividend of $0.20 per share. 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 annualized dividend and a yield of 1.24%. Nike’s dividend payout ratio is currently 34.63%.
In related news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the transaction, the insider now directly owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Insiders sold 967,896 shares of company stock worth $60,257,267 over the last ninety days. Insiders own 3.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Asset Planning Services Ltd. increased its holdings in Nike by 0.3% during 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 last quarter. Stearns Financial Services Group increased its holdings in Nike by 0.4% during the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after buying an additional 17 shares during the last quarter. Smith Shellnut Wilson LLC ADV increased its holdings in Nike by 0.3% during the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after buying an additional 41 shares during the last quarter. Buckingham Asset Management LLC increased its holdings in Nike by 0.7% during the second quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock worth $401,000 after buying an additional 45 shares during the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC increased its holdings in Nike by 1.0% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock worth $357,000 after buying an additional 61 shares during the last quarter. 62.67% of the stock is currently owned by institutional investors.
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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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