JPMorgan Chase & Co. set a $58.00 target price on Nike (NYSE:NKE) in a research report released on Tuesday, January 2nd. The firm currently has a neutral rating on the footwear maker’s stock.
Several other equities analysts have also issued reports on NKE. Vetr lowered Nike from a strong-buy rating to a buy rating and set a $59.57 price target on the stock. in a research note on Monday, September 4th. Robert W. Baird reiterated a buy rating and issued a $65.00 price target on shares of Nike in a research note on Sunday, September 10th. Sanford C. Bernstein initiated coverage on Nike in a research note on Tuesday, September 12th. They issued an outperform rating and a $69.00 price target on the stock. Deutsche Bank reiterated a buy rating and issued a $61.00 price target (down previously from $69.00) on shares of Nike in a research note on Wednesday, September 13th. Finally, Wedbush reiterated a neutral rating and issued a $53.40 price target (up previously from $52.00) on shares of Nike in a research note on Thursday, September 14th. Two analysts have rated the stock with a sell rating, nineteen have assigned 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 an average target price of $64.94.
Nike (NYSE NKE) opened at $68.04 on Tuesday. Nike has a 52 week low of $50.35 and a 52 week high of $68.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The company has a market capitalization of $111,010.00, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 3.07 and a beta of 0.64.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping 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 analyst estimates of $8.39 billion. During the same quarter last year, the company earned $0.50 EPS. The company’s revenue was up 4.6% on a year-over-year basis. equities analysts forecast that Nike will post 2.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were given 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 annualized dividend and a dividend yield of 1.18%. Nike’s dividend payout ratio (DPR) is 34.63%.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly 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. Corporate insiders own 3.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Fiduciary Trust Co. boosted its stake in shares of Nike by 4.9% in the 2nd 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 during the last quarter. Sterling Investment Advisors Ltd. boosted its stake in shares of Nike by 651.4% in the 2nd 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 during the last quarter. Royal Bank of Scotland Group PLC boosted its stake in shares of Nike by 6.2% in the 1st 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 during the last quarter. Great Lakes Advisors LLC boosted its stake in shares of Nike by 4.3% in the 2nd 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 during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Nike by 2.0% in the 3rd quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock worth $8,261,000 after buying an additional 3,189 shares during the last quarter. 62.86% of the stock is owned by hedge funds and other 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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