Nike Inc. (NKE) Rating Reiterated by Piper Jaffray Cos.
Nike Inc. (NYSE:NKE)‘s stock had its “neutral” rating restated by equities research analysts at Piper Jaffray Cos. in a research report issued to clients and investors on Wednesday. They presently have a $53.00 price target on the footwear maker’s stock. Piper Jaffray Cos.’s price objective suggests a potential upside of 1.07% from the company’s current price.
Other analysts have also issued research reports about the stock. Brean Capital cut their target price on shares of Nike from $68.00 to $62.00 in a research report on Wednesday, June 29th. B. Riley restated a “buy” rating and issued a $66.00 target price on shares of Nike in a research report on Wednesday, June 22nd. BB&T Corp. restated a “buy” rating and issued a $70.00 target price (down previously from $74.00) on shares of Nike in a research report on Tuesday, June 21st. Buckingham Research restated a “buy” rating and issued a $70.00 target price on shares of Nike in a research report on Tuesday, June 21st. Finally, Jefferies Group restated a “buy” rating and issued a $67.00 target price (down previously from $74.00) on shares of Nike in a research report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $63.66.
Nike (NYSE:NKE) traded up 1.20% during mid-day trading on Wednesday, hitting $52.44. 9,285,381 shares of the company were exchanged. Nike has a 12-month low of $51.48 and a 12-month high of $68.19. The company’s 50-day moving average is $55.45 and its 200 day moving average is $56.62. The company has a market capitalization of $87.68 billion, a P/E ratio of 23.66 and a beta of 0.56.
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Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The firm had revenue of $9.06 billion for the quarter. During the same quarter in the prior year, the business earned $1.34 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts expect that Nike will post $2.38 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Thursday, September 1st. Nike’s payout ratio is 28.83%.
In other news, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $56.99, for a total value of $5,699,000.00. Following the transaction, the executive vice president now owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Lechleiter purchased 1,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was bought at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the acquisition, the director now directly owns 27,560 shares in the company, valued at $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of NKE. Vanguard Group Inc. raised its position in shares of 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 during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 during the last quarter. Wellington Management Group LLP raised its position in shares of 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 during the last quarter. Janus Capital Management LLC raised its position in shares of 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 during the last quarter. Finally, Lone Pine Capital LLC raised its position in shares of 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 during the last quarter. 62.04% of the stock is currently owned by hedge funds and other 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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