Nike (NYSE:NKE) had its target price raised by Canaccord Genuity from $50.00 to $64.00 in a research report sent to investors on Tuesday, December 19th, Marketbeat reports. Canaccord Genuity currently has a hold rating on the footwear maker’s stock.
Several other equities research analysts also recently commented on NKE. Vetr upgraded shares of Nike from a hold rating to a buy rating and set a $59.74 price target for the company in a research report on Monday, August 21st. Jefferies Group downgraded shares of Nike from a buy rating to a hold rating and reduced their price target for the company from $75.00 to $60.00 in a research report on Monday, August 21st. Goldman Sachs Group reiterated a buy rating and issued a $58.00 target price (down previously from $63.00) on shares of Nike in a research report on Monday, August 21st. Stifel Nicolaus reiterated a buy rating and issued a $66.00 target price on shares of Nike in a research report on Thursday, August 24th. Finally, Needham & Company LLC restated a hold rating on shares of Nike in a report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $64.40.
Shares of Nike (NYSE NKE) traded up $0.38 during trading hours on Tuesday, hitting $64.67. 5,045,100 shares of the company traded hands, compared to its average volume of 9,460,000. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The stock has a market cap of $105,510.00, a P/E ratio of 28.00, a PEG ratio of 2.90 and a beta of 0.64. Nike has a fifty-two week low of $50.35 and a fifty-two week high of $65.18.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. sell-side analysts predict that Nike will post 2.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. This is an increase from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, December 1st. Nike’s dividend payout ratio (DPR) is presently 34.63%.
In related news, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the transaction, the insider now directly owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 100,000 shares of Nike stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $63.09, for a total transaction of $6,309,000.00. Following the transaction, the executive vice president now directly owns 268,169 shares of the company’s stock, valued at $16,918,782.21. The disclosure for this sale can be found here. Insiders have sold a total of 967,896 shares of company stock valued at $60,257,267 over the last ninety days. 3.90% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Nike by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock valued at $5,876,718,000 after purchasing an additional 2,452,993 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after acquiring an additional 2,375,447 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Nike by 10.4% in the second quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock worth $1,423,988,000 after acquiring an additional 2,274,869 shares during the last quarter. Capital World Investors raised its stake in shares of Nike by 58.7% in the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after acquiring an additional 8,058,601 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Nike by 6.7% in the second quarter. Northern Trust Corp now owns 21,502,892 shares of the footwear maker’s stock worth $1,268,671,000 after acquiring an additional 1,344,638 shares during the last quarter. 62.67% of the stock is owned by hedge funds and other institutional investors.
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Nike Company Profile
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.
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