Nike Inc. (NKE) Given Hold Rating at Brean Capital
Nike Inc. (NYSE:NKE)‘s stock had its “hold” rating restated by research analysts at Brean Capital in a report issued on Tuesday.
NKE has been the topic of a number of other reports. Vetr lowered Nike from a “hold” rating to a “sell” rating and set a $54.86 target price on the stock. in a research report on Monday, July 11th. Barclays PLC set a $70.00 target price on Nike and gave the stock a “buy” rating in a research report on Monday, September 12th. Citigroup Inc. boosted their target price on Nike from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, September 28th. B. Riley reaffirmed a “neutral” rating and set a $55.00 target price (down from $62.00) on shares of Nike in a research report on Monday, September 26th. Finally, Bank of America Corp. set a $55.00 target price on Nike and gave the stock a “hold” rating in a research report on Wednesday, September 28th. One research analyst has 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 presently has a consensus rating of “Buy” and an average target price of $63.99.
Nike (NYSE:NKE) traded up 0.78% during trading on Tuesday, hitting $51.43. The stock had a trading volume of 3,146,947 shares. Nike has a 1-year low of $50.96 and a 1-year high of $68.19. The firm’s 50 day moving average is $54.56 and its 200 day moving average is $56.33. The firm has a market cap of $85.99 billion, a price-to-earnings ratio of 23.21 and a beta of 0.56.
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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 company had revenue of $9.06 billion for the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last 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 year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.25%. Nike’s payout ratio is 28.83%.
In other news, EVP John F. Slusher sold 72,696 shares of the stock in a transaction on Tuesday, July 26th. The stock was 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 owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John C. Lechleiter purchased 1,000 shares of the business’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 purchase, the director now 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 owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Berkeley Capital Partners LLC bought a new position in Nike during the first quarter worth $292,000. Bessemer Group Inc. increased its position in Nike by 2.1% in the first quarter. Bessemer Group Inc. now owns 2,281,186 shares of the footwear maker’s stock worth $140,224,000 after buying an additional 47,149 shares during the period. Palisade Capital Management LLC NJ increased its position in Nike by 43.2% in the first quarter. Palisade Capital Management LLC NJ now owns 6,632 shares of the footwear maker’s stock worth $408,000 after buying an additional 2,000 shares during the period. Royal Bank of Scotland Group PLC increased its position in Nike by 237.5% in the first quarter. Royal Bank of Scotland Group PLC now owns 49,736 shares of the footwear maker’s stock worth $3,057,000 after buying an additional 35,000 shares during the period. Finally, Canandaigua National Bank & Trust Co. increased its position in Nike by 4.7% in the first quarter. Canandaigua National Bank & Trust Co. now owns 28,318 shares of the footwear maker’s stock worth $1,741,000 after buying an additional 1,280 shares during the period. 62.08% of the stock is currently owned by institutional investors.
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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