Nike Inc. (NYSE:NKE)‘s stock had its “equal weight” rating reissued by stock analysts at Morgan Stanley in a report issued on Tuesday. They currently have a $60.00 target price on the footwear maker’s stock. Morgan Stanley’s price objective would suggest a potential upside of 17.58% from the stock’s current price.
NKE has been the subject of a number of other reports. Deutsche Bank AG restated a “buy” rating and set a $75.00 target price on shares of Nike in a research report on Sunday, September 25th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research report on Friday, September 16th. Canaccord Genuity decreased their target price on shares of Nike from $52.00 to $51.00 and set a “hold” rating for the company in a research report on Thursday, October 13th. Cowen and Company set a $63.00 target price on shares of Nike and gave the company a “buy” rating in a research report on Tuesday, September 13th. Finally, Jefferies Group reiterated a “buy” rating on shares of Nike in a research report on Monday, September 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $63.99.
Shares of Nike (NYSE:NKE) traded up 0.6533% on Tuesday, reaching $51.3634. The company had a trading volume of 4,157,868 shares. The company’s 50-day moving average price is $54.56 and its 200-day moving average price is $56.33. The firm has a market capitalization of $85.88 billion, a price-to-earnings ratio of 23.1784 and a beta of 0.56. Nike has a 52-week low of $50.96 and a 52-week high of $68.20.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. The company earned $9.06 billion during the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 earnings per share. On average, analysts predict that Nike will post $2.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s dividend payout ratio (DPR) is 28.83%.
In related news, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $56.99, for a total value of $5,699,000.00. Following the completion of the sale, the executive vice president now owns 310,795 shares in the company, valued at $17,712,207.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Lechleiter acquired 1,000 shares of Nike stock in a transaction that occurred on Friday, September 30th. The stock was bought at an average price of $52.72 per share, with a total value of $52,720.00. Following the purchase, the director now directly owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. SevenBridge Financial Group LLC acquired a new position in shares of Nike during the second quarter worth about $100,000. CapWealth Advisors LLC boosted its position in shares of Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares during the last quarter. Cribstone Capital Management LLC acquired a new position in shares of Nike during the second quarter worth about $106,000. Gierl Augustine Investment Management Inc boosted 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 worth $111,000 after buying an additional 6 shares during the last quarter. Finally, CWM LLC boosted 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 worth $123,000 after buying an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 62.08% of the company’s stock.
Nike Company Profile