Trade Report: The Nike Inc. (NKE) Research Coverage Started at Oppenheimer Holdings Inc.

The Nike Inc. (NKE) Research Coverage Started at Oppenheimer Holdings Inc.

Oppenheimer Holdings Inc. began coverage on shares of Nike Inc. (NYSE:NKE) in a research report report published on Tuesday morning. The brokerage issued a market perform rating and a $68.00 price objective on the footwear maker’s stock.

NKE has been the subject of a number of other reports. Vetr raised Nike from a buy rating to a strong-buy rating and set a $57.56 target price for the company in a research report on Tuesday, October 18th. Deutsche Bank AG reaffirmed a buy rating and issued a $75.00 price target on shares of Nike in a report on Sunday, September 25th. Zacks Investment Research raised Nike from a sell rating to a hold rating in a report on Friday, September 16th. Morgan Stanley reaffirmed a hold rating and issued a $60.00 price target on shares of Nike in a report on Wednesday, September 21st. Finally, Canaccord Genuity cut their price target on Nike from $52.00 to $51.00 and set a hold rating for the company in a report on Thursday, October 13th. Eleven research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Nike presently has an average rating of Buy and an average price target of $64.11.

Nike (NYSE:NKE) opened at 52.02 on Tuesday. Nike has a one year low of $50.71 and a one year high of $68.19. The firm has a 50-day moving average price of $53.14 and a 200-day moving average price of $55.86. The firm has a market cap of $86.64 billion, a PE ratio of 23.47 and a beta of 0.56.

Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $9.06 billion during the quarter. During the same period in the prior year, the business earned $1.34 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Nike will post $2.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were given a $0.16 dividend. The ex-dividend date was Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.23%. Nike’s dividend payout ratio (DPR) is presently 28.83%.

In other Nike news, Director John C. Lechleiter acquired 1,000 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were acquired at an average cost of $52.72 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. boosted its position in Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock valued at $21,220,000 after buying an additional 29,538 shares during the period. Dividend Assets Capital LLC boosted its position in Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock valued at $94,538,000 after buying an additional 43,935 shares during the period. Carmignac Gestion acquired a new position in Nike during the second quarter valued at about $116,633,000. National Pension Service boosted its position in Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock valued at $43,599,000 after buying an additional 27,918 shares during the period. Finally, Gofen & Glossberg LLC IL boosted its position in Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock valued at $16,806,000 after buying an additional 2,890 shares during the period. 62.08% of the stock is currently owned by institutional investors and hedge funds.

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