Nike Inc. (NYSE:NKE) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday. They presently have a $56.32 price objective on the footwear maker’s stock. Vetr‘s price target would indicate a potential upside of 9.32% from the company’s current price.
Several other equities analysts have also weighed in on NKE. Deutsche Bank AG reissued a “buy” rating on shares of Nike in a research note on Sunday, July 17th. Brean Capital reaffirmed a “buy” rating and set a $62.00 price target on shares of Nike in a research report on Sunday, August 21st. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. B. Riley lowered Nike from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Friday, August 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price target on shares of Nike in a research report on Friday, August 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $63.43.
Nike (NYSE:NKE) traded up 0.35% during midday trading on Monday, reaching $51.52. The company had a trading volume of 2,736,767 shares. Nike has a 52-week low of $49.01 and a 52-week high of $68.19. The company’s 50-day moving average is $51.17 and its 200 day moving average is $54.68. The company has a market cap of $85.80 billion, a PE ratio of 23.25 and a beta of 0.48.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm had revenue of $9.06 billion for the quarter. During the same period in the previous year, the company posted $1.34 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that Nike will post $2.37 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.16. Nike’s payout ratio is 28.83%.
In related news, Director John C. Lechleiter purchased 1,000 shares of Nike stock in a transaction on Friday, September 30th. The shares were purchased at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the transaction, the director now owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $49.78, for a total value of $7,467,000.00. Following the completion of the sale, the chairman now owns 1,985,225 shares in the company, valued at approximately $98,824,500.50. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. SevenBridge Financial Group LLC bought a new stake in Nike during the second quarter worth approximately $100,000. Cribstone Capital Management LLC bought a new stake in Nike during the second quarter worth approximately $106,000. Gierl Augustine Investment Management Inc raised its stake in Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares during the period. CWM LLC raised its stake in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares during the period. Finally, First Personal Financial Services bought a new stake in Nike during the second quarter worth approximately $125,000. Hedge funds and other institutional investors own 62.90% 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.