Nike Inc. (NKE) Receives Hold Rating from Brean Capital
Nike Inc. (NYSE:NKE)‘s stock had its “hold” rating reissued by investment analysts at Brean Capital in a research note issued on Thursday.
A number of other equities analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Morgan Stanley reiterated a “hold” rating and issued a $60.00 price objective on shares of Nike in a research report on Wednesday, September 21st. Bank of America Corp. set a $55.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Tuesday, September 20th. Cowen and Company set a $63.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Tuesday, September 13th. Finally, Jefferies Group reiterated a “buy” rating on shares of Nike in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the stock. Nike has a consensus rating of “Buy” and an average price target of $64.47.
Nike (NYSE:NKE) traded down 2.20% during midday trading on Thursday, hitting $54.12. 12,352,712 shares of the stock were exchanged. The stock has a market cap of $90.79 billion, a P/E ratio of 25.06 and a beta of 0.52. The firm has a 50-day moving average price of $56.79 and a 200-day moving average price of $57.33. Nike has a one year low of $51.48 and a one year high of $68.19.
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Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.17. The business had revenue of $9.06 billion for the quarter. Nike had a net margin of 11.61% and a return on equity of 29.57%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.34 earnings per share. On average, equities research analysts anticipate that Nike will post $2.40 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. Nike’s payout ratio is 29.63%.
In related news, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the completion of the transaction, the executive vice president now owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total value of $4,198,194.00. Following the transaction, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NKE. Montrusco Bolton Investments Inc. boosted its position in shares of Nike by 104.8% in the first quarter. Montrusco Bolton Investments Inc. now owns 153,349 shares of the footwear maker’s stock valued at $9,419,000 after buying an additional 78,461 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Nike by 5.2% in the first quarter. Sigma Planning Corp now owns 32,279 shares of the footwear maker’s stock valued at $1,984,000 after buying an additional 1,586 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Nike during the first quarter valued at $1,045,000. Laurel Grove Capital LLC boosted its position in shares of Nike by 12.4% in the first quarter. Laurel Grove Capital LLC now owns 55,136 shares of the footwear maker’s stock valued at $3,389,000 after buying an additional 6,075 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Nike by 54.3% in the first quarter. Fisher Asset Management LLC now owns 46,232 shares of the footwear maker’s stock valued at $2,751,000 after buying an additional 16,270 shares in the last quarter. 62.04% of the stock is owned by institutional investors and hedge funds.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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