Nike, Inc. (NKE) Receives Consensus Rating of “Hold” from Analysts
Shares of Nike, Inc. (NYSE:NKE) have received an average recommendation of “Hold” from the forty analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $60.86.
Several research analysts have recently issued reports on the stock. Guggenheim reiterated a “buy” rating and issued a $70.00 price objective on shares of Nike in a report on Monday. Piper Jaffray Companies set a $53.00 target price on shares of Nike and gave the company a “hold” rating in a research note on Saturday. Stifel Nicolaus set a $66.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Saturday. Morgan Stanley set a $68.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC began coverage on shares of Nike in a research note on Tuesday, July 18th. They set a “hold” rating for the company.
In related news, CFO Andrew Campion sold 96,243 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the transaction, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the transaction, the insider now owns 300,108 shares of the company’s stock, valued at approximately $17,706,372. The disclosure for this sale can be found here. In the last quarter, insiders have sold 380,037 shares of company stock valued at $21,901,923. 3.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NKE. Denver Investment Advisors LLC boosted its position in shares of Nike by 18.0% in the fourth quarter. Denver Investment Advisors LLC now owns 15,142 shares of the footwear maker’s stock worth $770,000 after buying an additional 2,305 shares in the last quarter. Congress Asset Management Co. MA bought a new position in shares of Nike during the fourth quarter worth $4,395,000. Horizon Kinetics LLC raised its position in shares of Nike by 8.1% in the fourth quarter. Horizon Kinetics LLC now owns 8,858 shares of the footwear maker’s stock worth $451,000 after buying an additional 665 shares during the last quarter. Capital International Inc. CA raised its position in shares of Nike by 41.9% in the fourth quarter. Capital International Inc. CA now owns 25,250 shares of the footwear maker’s stock worth $1,283,000 after buying an additional 7,450 shares during the last quarter. Finally, Cigna Investments Inc. New bought a new position in shares of Nike during the fourth quarter worth $2,503,000. Hedge funds and other institutional investors own 64.17% of the company’s stock.
Nike (NYSE NKE) traded down 1.67% during midday trading on Monday, hitting $58.95. 7,498,860 shares of the stock were exchanged. Nike has a 52 week low of $49.01 and a 52 week high of $60.33. The stock has a market cap of $96.87 billion, a price-to-earnings ratio of 23.49 and a beta of 0.59. The firm’s 50-day moving average is $55.41 and its 200 day moving average is $55.03.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. Equities research analysts expect that Nike will post $2.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Monday, June 5th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Thursday, June 1st. Nike’s dividend payout ratio is 28.69%.
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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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