Nike Inc (NYSE:NKE) – Equities research analysts at Wedbush boosted their Q4 2018 EPS estimates for Nike in a note issued to investors on Friday. Wedbush analyst C. Svezia now expects that the footwear maker will post earnings of $0.70 per share for the quarter, up from their prior estimate of $0.68. Wedbush has a “Outperform” rating and a $74.00 price target on the stock. Wedbush also issued estimates for Nike’s FY2019 earnings at $2.67 EPS and FY2020 earnings at $3.05 EPS.
A number of other equities research analysts also recently issued reports on the stock. Goldman Sachs Group downgraded shares of Nike from a “buy” rating to a “neutral” rating and boosted their target price for the company from $52.30 to $54.00 in a report on Thursday, October 19th. Vetr upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $58.95 target price for the company in a report on Monday, October 30th. Robert W. Baird restated a “buy” rating on shares of Nike in a report on Friday, October 13th. Argus upgraded shares of Nike from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.35 to $64.46 in a report on Thursday, December 14th. Finally, Forward View upgraded shares of Nike from a “sell” rating to a “hold” rating in a report on Sunday, October 29th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $64.94.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in NKE. Chevy Chase Trust Holdings Inc. lifted its position in Nike by 1.4% during the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 1,580,843 shares of the footwear maker’s stock valued at $98,881,000 after purchasing an additional 22,129 shares during the period. Patten & Patten Inc. TN boosted its holdings in Nike by 2.0% in the 4th quarter. Patten & Patten Inc. TN now owns 110,237 shares of the footwear maker’s stock valued at $6,895,000 after purchasing an additional 2,145 shares during the last quarter. TRUE Private Wealth Advisors boosted its holdings in Nike by 168.6% in the 4th quarter. TRUE Private Wealth Advisors now owns 48,603 shares of the footwear maker’s stock valued at $3,046,000 after purchasing an additional 30,509 shares during the last quarter. Saratoga Research & Investment Management lifted its holdings in shares of Nike by 2.9% in the 4th quarter. Saratoga Research & Investment Management now owns 705,440 shares of the footwear maker’s stock worth $44,125,000 after acquiring an additional 19,670 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Nike by 749.5% during the 4th quarter. State of Alaska Department of Revenue now owns 141,138 shares of the footwear maker’s stock worth $8,826,000 after buying an additional 124,524 shares during the period. 62.86% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the sale, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock valued at $60,257,267 in the last three months. 3.90% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were given a $0.20 dividend. The ex-dividend date was Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. Nike’s payout ratio is 34.63%.
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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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