Nike Inc. (NKE) Rating Reiterated by Brean Capital
Nike Inc. (NYSE:NKE)‘s stock had its “hold” rating reiterated by Brean Capital in a report issued on Tuesday.
NKE has been the subject of several other reports. Vetr cut Nike from a “hold” rating to a “sell” rating and set a $54.86 target price for the company. in a research note on Monday, July 11th. Barclays PLC set a $70.00 target price on Nike and gave the stock a “buy” rating in a research note on Monday, September 12th. Citigroup Inc. upped their target price on Nike from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, September 28th. B. Riley reiterated a “neutral” rating and set a $55.00 price target (down from $62.00) on shares of Nike in a report on Monday, September 26th. Finally, Bank of America Corp. set a $55.00 price target on shares of Nike and gave the stock a “hold” rating in a 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 issued a buy rating to the company. Nike presently has a consensus rating of “Buy” and an average price target of $63.99.
Nike (NYSE:NKE) traded up 0.735% on Tuesday, hitting $51.405. The stock had a trading volume of 3,148,749 shares. The company has a 50 day moving average of $54.56 and a 200 day moving average of $56.33. The company has a market capitalization of $85.95 billion, a PE ratio of 23.197 and a beta of 0.56. Nike has a 12-month low of $50.96 and a 12-month high of $68.20.
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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 for the quarter, topping the consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm earned $9.06 billion during the quarter. During the same quarter in the previous year, the company earned $1.34 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts expect that Nike will post $2.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, September 1st. Nike’s payout ratio is 28.83%.
In other Nike news, EVP Hilary K. Krane sold 100,000 shares of the firm’s 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 completion of the transaction, the executive vice president now directly 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 SEC, which can be accessed through the SEC website. Also, 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 cost of $52.72 per share, with a total value of $52,720.00. Following the completion of the acquisition, 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 currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. increased its stake 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. BlackRock Japan Co. Ltd increased its stake in Nike by 0.4% in the first quarter. BlackRock Japan Co. Ltd now owns 1,987,290 shares of the footwear maker’s stock worth $122,159,000 after buying an additional 8,596 shares in the last quarter. Bristlecone Advisors LLC increased its stake in Nike by 16.5% in the first quarter. Bristlecone Advisors LLC now owns 37,786 shares of the footwear maker’s stock worth $2,323,000 after buying an additional 5,348 shares in the last quarter. Howard Hughes Medical Institute increased its stake in Nike by 55.7% in the first quarter. Howard Hughes Medical Institute now owns 7,401 shares of the footwear maker’s stock worth $455,000 after buying an additional 2,647 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its stake in Nike by 6.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 8,500 shares of the footwear maker’s stock worth $527,000 after buying an additional 500 shares in the last quarter. 62.08% of the stock is 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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