Nike’s (NKE) Buy Rating Reiterated at Brean Capital
Nike Inc. (NYSE:NKE)‘s stock had its “buy” rating restated by research analysts at Brean Capital in a research report issued on Thursday.
Several other brokerages also recently weighed in on NKE. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a report on Thursday. Morgan Stanley reaffirmed a “hold” rating and set a $60.00 price target on shares of Nike in a report on Wednesday. Bank of America Corp. reaffirmed a “hold” rating and set a $55.00 price target on shares of Nike in a report on Tuesday. Cowen and Company set a $63.00 price target on shares of Nike and gave the company a “buy” rating in a report on Tuesday, September 13th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Nike in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $65.63.
Nike (NYSE:NKE) traded up 0.78% during trading on Thursday, hitting $55.77. 2,073,813 shares of the company traded hands. The stock has a market capitalization of $93.56 billion, a PE ratio of 25.82 and a beta of 0.52. The company’s 50 day moving average is $56.82 and its 200-day moving average is $57.46. Nike has a 52 week low of $51.48 and a 52 week high of $68.19.
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Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.28 billion. Nike had a net margin of 11.61% and a return on equity of 29.57%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. Analysts predict that Nike will post $2.40 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. Nike’s dividend payout ratio (DPR) is currently 29.63%.
In other news, EVP Hilary K. Krane sold 100,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the transaction, the executive vice president now owns 310,795 shares in the company, valued at $17,712,207.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Lechleiter acquired 1,000 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were bought at an average price of $55.09 per share, for a total transaction of $55,090.00. Following the acquisition, the director now owns 23,682 shares of the company’s stock, valued at $1,304,641.38. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Bath Savings Trust Co increased its position in Nike by 5.4% in the first quarter. Bath Savings Trust Co now owns 197,009 shares of the footwear maker’s stock valued at $12,110,000 after buying an additional 10,090 shares during the period. Heritage Investors Management Corp increased its position in Nike by 1.9% in the first quarter. Heritage Investors Management Corp now owns 257,815 shares of the footwear maker’s stock valued at $15,848,000 after buying an additional 4,793 shares during the period. Eastern Bank increased its position in Nike by 1,707.0% in the first quarter. Eastern Bank now owns 172,031 shares of the footwear maker’s stock valued at $10,575,000 after buying an additional 162,511 shares during the period. Quotient Investors LLC increased its position in Nike by 298.8% in the first quarter. Quotient Investors LLC now owns 14,773 shares of the footwear maker’s stock valued at $908,000 after buying an additional 11,069 shares during the period. Finally, Jacobs & Co. CA increased its position in Nike by 14.9% in the first quarter. Jacobs & Co. CA now owns 82,501 shares of the footwear maker’s stock valued at $5,071,000 after buying an additional 10,710 shares during the period. Hedge funds and other institutional investors own 62.04% of the company’s stock.
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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