Nike Inc. (NKE) Stock Rating Upgraded by Vetr Inc.
Nike Inc. (NYSE:NKE) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $57.56 price target on the footwear maker’s stock. Vetr‘s target price points to a potential upside of 12.38% from the company’s current price.
Several other equities research analysts have also recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 price target on shares of Nike in a report on Tuesday. Brean Capital reaffirmed a “hold” rating on shares of Nike in a report on Tuesday. Canaccord Genuity cut their price target on Nike from $52.00 to $51.00 and set a “hold” rating for the company in a report on Thursday, October 13th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $53.00 price target on shares of Nike in a report on Wednesday, October 12th. Finally, Susquehanna assumed coverage on Nike in a report on Tuesday, October 11th. They issued a “positive” rating and a $63.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $63.97.
Shares of Nike (NYSE:NKE) traded up 0.37% during midday trading on Tuesday, reaching $51.22. The company’s stock had a trading volume of 6,805,166 shares. The company has a market capitalization of $85.64 billion, a P/E ratio of 23.11 and a beta of 0.56. The stock’s 50-day moving average is $54.35 and its 200-day moving average is $56.26. Nike has a one year low of $50.96 and a one year high of $68.19.
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Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating 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 period in the prior year, the business posted $1.34 EPS. Nike’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Nike will post $2.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s dividend payout ratio (DPR) is 28.83%.
In other Nike news, Director John C. Lechleiter purchased 1,000 shares of Nike stock in a transaction that occurred on Friday, September 30th. The stock was acquired at an average price of $52.72 per share, with a total value of $52,720.00. Following the transaction, the director now owns 27,560 shares in the company, valued at approximately $1,452,963.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction on Monday, July 25th. The shares were sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the completion of the sale, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Capstone Asset Management Co. increased its stake in Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock valued at $21,220,000 after buying an additional 29,538 shares during the last quarter. Dividend Assets Capital LLC increased its stake in Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock valued at $94,538,000 after buying an additional 43,935 shares during the last quarter. Carmignac Gestion acquired a new stake in Nike during the second quarter valued at about $116,633,000. National Pension Service increased its stake in Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock valued at $43,599,000 after buying an additional 27,918 shares during the last quarter. Finally, Gofen & Glossberg LLC IL increased its stake in Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock valued at $16,806,000 after buying an additional 2,890 shares during the last quarter. 62.08% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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