Nike Inc. (NYSE:NKE) had its target price decreased by Canaccord Genuity from $52.00 to $51.00 in a report issued on Thursday morning. Canaccord Genuity currently has a hold rating on the footwear maker’s stock.
NKE has been the subject of several other reports. Deutsche Bank AG restated a buy rating and issued a $75.00 price objective on shares of Nike in a report on Sunday, September 25th. Zacks Investment Research upgraded Nike from a sell rating to a hold rating in a report on Friday, September 16th. Morgan Stanley restated a hold rating and issued a $60.00 price objective on shares of Nike in a report on Wednesday, September 21st. Cowen and Company set a $63.00 price objective on Nike and gave the company a buy rating in a report on Tuesday, September 13th. Finally, Jefferies Group restated a buy rating on shares of Nike in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $63.99.
Shares of Nike (NYSE:NKE) opened at 51.03 on Thursday. Nike has a one year low of $50.96 and a one year high of $68.19. The stock’s 50 day moving average is $54.56 and its 200-day moving average is $56.33. The stock has a market cap of $85.32 billion, a P/E ratio of 23.03 and a beta of 0.56.
Nike (NYSE:NKE) last released its quarterly earnings data 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. The firm earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 earnings per share. On average, equities analysts forecast that Nike will post $2.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.25%. Nike’s dividend payout ratio (DPR) is currently 28.83%.
In other Nike news, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total value of $4,198,194.00. Following the transaction, the executive vice president now directly owns 231,861 shares in the company, valued at approximately $13,389,972.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction on Friday, September 30th. The stock was bought at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the completion of the purchase, the director now directly owns 27,560 shares in the company, valued at approximately $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gierl Augustine Investment Management Inc increased its position in shares of Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock valued at $111,000 after buying an additional 6 shares during the period. CWM LLC increased its position in shares of Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock valued at $123,000 after buying an additional 7 shares during the period. CHICAGO TRUST Co NA increased its position in shares of Nike by 0.3% in the second quarter. CHICAGO TRUST Co NA now owns 14,656 shares of the footwear maker’s stock valued at $809,000 after buying an additional 38 shares during the period. Mission Wealth Management LLC increased its position in shares of Nike by 1.1% in the second quarter. Mission Wealth Management LLC now owns 4,544 shares of the footwear maker’s stock valued at $251,000 after buying an additional 50 shares during the period. Finally, TRUE Private Wealth Advisors increased its position in shares of Nike by 0.3% in the second quarter. TRUE Private Wealth Advisors now owns 15,891 shares of the footwear maker’s stock valued at $877,000 after buying an additional 53 shares during the period. Institutional investors own 62.08% of the company’s stock.
Nike Company Profile