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.