Nike Inc (NYSE:NKE) – Stock analysts at Wedbush upped their FY2019 earnings estimates for Nike in a research note issued on Monday. Wedbush analyst C. Svezia now expects that the footwear maker will post earnings per share of $2.70 for the year, up from their prior forecast of $2.69. Wedbush currently has a “Outperform” rating and a $74.00 target price on the stock.
Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share.
Nike (NYSE NKE) remained flat at $$66.17 on Wednesday. 3,728,711 shares of the company’s stock traded hands, compared to its average volume of 7,637,042. The company has a market cap of $108,712.06, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.02 and a beta of 0.68. Nike has a fifty-two week low of $50.35 and a fifty-two week high of $70.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, March 2nd. Nike’s dividend payout ratio is currently 34.63%.
In related news, insider Eric D. Sprunk sold 226,040 shares of the stock in a transaction dated Wednesday, December 27th. The shares were 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 in the company, valued at $10,448,792.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric D. Sprunk sold 100,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the sale, the insider now owns 227,199 shares of the company’s stock, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,057,896 shares of company stock worth $68,424,217. 3.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Vanguard Group Inc. lifted its stake in Nike by 2.5% during the second quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock worth $5,876,718,000 after purchasing an additional 2,452,993 shares during the period. Capital Research Global Investors lifted its stake in Nike by 10.4% during the second quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock worth $1,423,988,000 after purchasing an additional 2,274,869 shares during the period. Capital World Investors lifted its stake in Nike by 58.7% during the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after purchasing an additional 8,058,601 shares during the period. Northern Trust Corp lifted its stake in Nike by 6.7% during the second quarter. Northern Trust Corp now owns 21,502,892 shares of the footwear maker’s stock worth $1,268,671,000 after purchasing an additional 1,344,638 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after purchasing an additional 16,237,557 shares during the period. Institutional investors and hedge funds own 65.76% of the company’s stock.
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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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