Nike Inc. (NKE) Earns Neutral Rating from Piper Jaffray Cos.
Nike Inc. (NYSE:NKE)‘s stock had its “neutral” rating reissued by equities researchers at Piper Jaffray Cos. in a report issued on Wednesday. They presently have a $53.00 target price on the footwear maker’s stock. Piper Jaffray Cos.’s price target suggests a potential upside of 1.07% from the stock’s current price.
Other analysts have also issued reports about the company. Brean Capital lowered their price objective on Nike from $68.00 to $62.00 in a report on Wednesday, June 29th. B. Riley reissued a “buy” rating and issued a $66.00 price objective on shares of Nike in a report on Wednesday, June 22nd. BB&T Corp. reissued 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. Buckingham Research reissued a “buy” rating and issued a $70.00 price objective on shares of Nike in a report on Tuesday, June 21st. Finally, Jefferies Group reissued a “buy” rating and issued a $67.00 price objective (down from $74.00) on shares of Nike in a report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $63.66.
Nike (NYSE:NKE) traded up 1.20% during mid-day trading on Wednesday, hitting $52.44. The stock had a trading volume of 9,297,862 shares. The company has a 50-day moving average of $55.45 and a 200-day moving average of $56.62. The stock has a market cap of $87.68 billion, a price-to-earnings ratio of 23.66 and a beta of 0.56. Nike has a 12-month low of $51.48 and a 12-month high of $68.19.
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Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The firm earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share. On average, analysts anticipate that Nike will post $2.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s payout ratio is presently 28.83%.
In other Nike news, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction on Friday, September 30th. The stock was purchased at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the completion of the purchase, the director now directly owns 27,560 shares in the company, valued at $1,452,963.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the transaction, the executive vice president now 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 currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NKE. Capstone Asset Management Co. boosted its position in shares of Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock worth $21,220,000 after buying an additional 29,538 shares in the last quarter. Dividend Assets Capital LLC boosted its position in shares of Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock worth $94,538,000 after buying an additional 43,935 shares in the last quarter. Carmignac Gestion acquired a new position in shares of Nike during the second quarter worth approximately $116,633,000. National Pension Service boosted its position in shares of Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock worth $43,599,000 after buying an additional 27,918 shares in the last quarter. Finally, Gofen & Glossberg LLC IL boosted its position in shares of Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock worth $16,806,000 after buying an additional 2,890 shares in the last quarter. 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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