Nike (NKE) Upgraded at HSBC

HSBC upgraded shares of Nike (NYSE:NKE) from a hold rating to a buy rating in a research note published on Tuesday morning, Marketbeat reports. They currently have $95.00 price target on the footwear maker’s stock, up from their previous price target of $92.00.

NKE has been the subject of several other reports. Morgan Stanley set a $103.00 price target on Nike and gave the stock a buy rating in a report on Tuesday, December 11th. Wedbush upped their price objective on Nike from $85.00 to $90.00 and gave the stock an outperform rating in a research report on Monday, September 10th. Oppenheimer raised Nike from a market perform rating to an outperform rating and set a $90.00 price objective for the company in a research report on Thursday, October 18th. Wells Fargo & Co set a $82.00 price objective on Nike and gave the stock a hold rating in a research report on Monday, September 10th. Finally, Morningstar set a $75.00 price objective on Nike and gave the stock a hold rating in a research report on Friday, October 5th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $83.14.

Nike stock traded down $0.33 on Tuesday, reaching $76.10. The company’s stock had a trading volume of 7,876,720 shares, compared to its average volume of 8,586,630. The firm has a market cap of $121.63 billion, a P/E ratio of 31.44, a P/E/G ratio of 2.37 and a beta of 0.69. Nike has a twelve month low of $62.09 and a twelve month high of $86.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14.

Nike (NYSE:NKE) last released its earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.06. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. Nike had a return on equity of 44.85% and a net margin of 5.66%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, equities research analysts predict that Nike will post 2.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd were paid a dividend of $0.22 per share. The ex-dividend date was Friday, November 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from Nike’s previous quarterly dividend of $0.20. Nike’s dividend payout ratio (DPR) is 36.36%.

In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the transaction, the chairman now owns 1,687,863 shares in the company, valued at approximately $124,361,745.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John F. Slusher sold 200,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total value of $14,810,000.00. Following the transaction, the executive vice president now owns 284,805 shares in the company, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Albion Financial Group UT lifted its holdings in Nike by 4.0% during the 3rd quarter. Albion Financial Group UT now owns 6,324 shares of the footwear maker’s stock worth $536,000 after buying an additional 246 shares during the period. Arlington Partners LLC lifted its holdings in Nike by 2.7% during the 4th quarter. Arlington Partners LLC now owns 13,070 shares of the footwear maker’s stock worth $969,000 after buying an additional 340 shares during the period. North Star Investment Management Corp. raised its position in shares of Nike by 6.6% in the 4th quarter. North Star Investment Management Corp. now owns 7,809 shares of the footwear maker’s stock worth $579,000 after acquiring an additional 485 shares in the last quarter. Chesley Taft & Associates LLC raised its position in shares of Nike by 2.1% in the 4th quarter. Chesley Taft & Associates LLC now owns 24,119 shares of the footwear maker’s stock worth $1,788,000 after acquiring an additional 490 shares in the last quarter. Finally, National Asset Management Inc. raised its position in shares of Nike by 4.7% in the 3rd quarter. National Asset Management Inc. now owns 14,586 shares of the footwear maker’s stock worth $1,237,000 after acquiring an additional 655 shares in the last quarter. 63.99% of the stock is currently owned by hedge funds and other institutional investors.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Analyst Recommendations for Nike (NYSE:NKE)

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