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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About Nike

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.

Analyst Recommendations for Nike (NYSE:NKE)

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