Nike, Inc. (NKE) Lifted to Hold at BidaskClub
Nike, Inc. (NYSE:NKE) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
Other research analysts also recently issued research reports about the company. Citigroup Inc. upped their price objective on Nike to $66.00 in a report on Thursday, March 23rd. Argus set a $55.00 price objective on Nike in a report on Wednesday, April 5th. Stifel Nicolaus reduced their price objective on Nike from $68.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, March 22nd. Goldman Sachs Group, Inc. (The) upped their price objective on Nike from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, March 22nd. Finally, DA Davidson reaffirmed a “buy” rating and set a $64.00 price objective on shares of Nike in a report on Friday, March 17th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.78.
Nike (NYSE NKE) traded up 0.64% during midday trading on Wednesday, hitting $54.66. The stock had a trading volume of 6,783,148 shares. Nike has a one year low of $49.01 and a one year high of $60.33. The stock has a 50-day moving average price of $53.55 and a 200 day moving average price of $54.15. The firm has a market cap of $90.23 billion, a PE ratio of 22.80 and a beta of 0.47.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.15. Nike had a return on equity of 32.97% and a net margin of 12.02%. The firm had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts predict that Nike will post $2.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, June 1st. This represents a $0.72 annualized dividend and a yield of 1.32%. Nike’s dividend payout ratio (DPR) is presently 30.00%.
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In related news, Director John C. Lechleiter acquired 1,000 shares of the business’s stock in a transaction on Friday, March 24th. The stock was purchased at an average cost of $56.30 per share, for a total transaction of $56,300.00. Following the completion of the transaction, the director now directly owns 28,660 shares of the company’s stock, valued at approximately $1,613,558. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $55.67, for a total transaction of $2,783,500.00. Following the sale, the insider now owns 300,108 shares of the company’s stock, valued at $16,707,012.36. The disclosure for this sale can be found here. Insiders have sold 379,000 shares of company stock valued at $21,213,800 over the last 90 days. Company insiders own 3.90% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Clarius Group LLC bought a new stake in shares of Nike during the fourth quarter valued at about $111,000. Crestwood Advisors Group LLC bought a new stake in shares of Nike during the first quarter valued at about $117,000. Webster Bank N. A. increased its stake in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares during the period. Gierl Augustine Investment Management Inc increased its stake in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock valued at $118,000 after buying an additional 107 shares during the period. Finally, Asset Planning Services Ltd. bought a new stake in shares of Nike during the first quarter valued at about $118,000. Hedge funds and other institutional investors own 65.55% 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’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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