Barclays set a $71.00 price objective on Nike (NYSE:NKE) in a report issued on Thursday, December 28th. The brokerage currently has a buy rating on the footwear maker’s stock.
A number of other equities analysts have also recently weighed in on NKE. Citigroup reissued a buy rating and issued a $74.00 price target on shares of Nike in a research note on Tuesday, December 19th. Canaccord Genuity lifted their price target on Nike from $50.00 to $64.00 and gave the stock a hold rating in a research note on Tuesday, December 19th. Zacks Investment Research raised Nike from a hold rating to a buy rating and set a $73.00 target price on the stock in a research note on Tuesday, December 19th. Telsey Advisory Group lifted their target price on Nike from $61.00 to $68.00 and gave the company an outperform rating in a research note on Monday, December 18th. Finally, Buckingham Research lifted their target price on Nike from $64.00 to $71.00 and gave the company a buy rating in a research note on Monday, December 18th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-one have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $64.40.
Nike (NYSE:NKE) opened at $64.67 on Thursday. 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 $105,510.00, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 2.92 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 quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. equities analysts forecast that Nike will post 2.25 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio is 34.63%.
In other Nike news, insider Eric D. Sprunk sold 226,040 shares of the stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the transaction, the insider now owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were 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 approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock worth $60,257,267 in the last ninety days. 3.90% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Fiduciary Trust Co. grew its holdings in shares of Nike by 4.9% during the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock worth $13,597,000 after buying an additional 10,840 shares in the last quarter. Sterling Investment Advisors Ltd. grew its holdings in shares of Nike by 651.4% during the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock worth $1,596,000 after buying an additional 23,450 shares in the last quarter. Royal Bank of Scotland Group PLC grew its holdings in shares of Nike by 6.2% during the first quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after buying an additional 12,201 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Nike by 4.3% during the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock worth $5,732,000 after buying an additional 4,030 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its holdings in shares of Nike by 20.0% during the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock worth $6,118,000 after buying an additional 17,285 shares in the last quarter. Institutional investors own 62.67% of the company’s stock.
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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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