Nike Inc. (NKE) Earns Positive Rating from Analysts at Susquehanna
Equities researchers at Susquehanna assumed coverage on shares of Nike Inc. (NYSE:NKE) in a report released on Tuesday. The brokerage set a “positive” rating on the footwear maker’s stock.
Other equities analysts have also issued reports about the stock. B. Riley reiterated a “buy” rating and set a $66.00 target price on shares of Nike in a report on Wednesday, June 22nd. Deutsche Bank AG restated a “buy” rating on shares of Nike in a report on Sunday, July 17th. Canaccord Genuity restated a “neutral” rating and issued a $56.00 price objective (down from $57.00) on shares of Nike in a report on Wednesday, June 29th. BB&T Corp. restated a “buy” rating and issued a $70.00 price objective (down from $74.00) on shares of Nike in a report on Tuesday, June 21st. Finally, Citigroup Inc. restated a “buy” rating and issued a $61.00 price objective (down from $75.00) on shares of Nike in a report on Wednesday, June 29th. One research 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 company. Nike presently has a consensus rating of “Buy” and a consensus price target of $64.54.
Shares of Nike (NYSE:NKE) opened at 51.79 on Tuesday. Nike has a 12 month low of $51.48 and a 12 month high of $68.19. The company has a market capitalization of $86.59 billion, a PE ratio of 23.37 and a beta of 0.56. The firm has a 50-day moving average price of $55.64 and a 200-day moving average price of $56.65.
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Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The firm earned $9.06 billion during the quarter. During the same quarter in the previous year, the business posted $1.34 earnings per share. Nike’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts predict that Nike will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. Nike’s payout ratio is 28.83%.
In other news, Director John C. Lechleiter bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was bought at an average price of $52.72 per share, with a total value of $52,720.00. Following the completion of the transaction, the director now directly owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the sale, 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. Corporate insiders own 3.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Nike by 0.4% in the second quarter. Vanguard Group Inc. now owns 89,158,174 shares of the footwear maker’s stock worth $4,921,530,000 after buying an additional 366,833 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock worth $2,265,096,000 after buying an additional 204,944 shares in the last quarter. Wellington Management Group LLP boosted its position in Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock worth $1,679,937,000 after buying an additional 13,136,502 shares in the last quarter. Janus Capital Management LLC boosted its position in Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock worth $1,405,003,000 after buying an additional 3,203,177 shares in the last quarter. Finally, Lone Pine Capital LLC boosted its position in Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock worth $1,010,475,000 after buying an additional 6,309,324 shares in the last quarter. 62.04% of the stock is owned by institutional investors.
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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