Pivotal Research reaffirmed their hold rating on shares of Nike (NYSE:NKE) in a research report sent to investors on Wednesday morning. They currently have a $65.00 price objective on the footwear maker’s stock, up from their prior price objective of $62.00.
NKE has been the topic of several other reports. Goldman Sachs set a $59.00 price target on shares of Nike and gave the company a neutral rating in a report on Thursday, December 14th. HSBC cut shares of Nike from a buy rating to a hold rating and upped their price target for the company from $58.95 to $62.00 in a report on Tuesday, November 28th. Buckingham Research assumed coverage on shares of Nike in a report on Sunday, December 31st. They issued a buy rating and a $72.00 price target on the stock. B. Riley upped their price target on shares of Nike from $53.00 to $61.00 and gave the company a neutral rating in a report on Friday, December 22nd. Finally, Deutsche Bank set a $76.00 price target on shares of Nike and gave the company a buy rating in a report on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have given a buy rating to the stock. Nike presently has a consensus rating of Buy and a consensus price target of $66.42.
Shares of NKE stock opened at $66.00 on Wednesday. The stock has a market cap of $108,679.53, a price-to-earnings ratio of 28.72, a P/E/G ratio of 3.02 and a beta of 0.68. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. Nike has a twelve month low of $50.35 and a twelve month high of $70.25.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.50 earnings per share. equities analysts predict that Nike will post 2.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be given a $0.20 dividend. The ex-dividend date is Friday, March 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. Nike’s dividend payout ratio is presently 34.63%.
In related news, EVP John F. Slusher sold 100,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $63.09, for a total value of $6,309,000.00. Following the completion of the transaction, the executive vice president now owns 268,169 shares in the company, valued at approximately $16,918,782.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the completion of the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The disclosure for this sale can be found here. Insiders sold a total of 912,802 shares of company stock valued at $58,993,107 in the last quarter. 3.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Field & Main Bank acquired a new stake in Nike in the 4th quarter valued at about $100,000. Wagner Wealth Management LLC acquired a new stake in Nike in the 4th quarter valued at about $103,000. G&S Capital LLC acquired a new stake in Nike in the 4th quarter valued at about $112,000. Willingdon Wealth Management acquired a new stake in Nike in the 3rd quarter valued at about $114,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in Nike in the 4th quarter valued at about $116,000. 65.65% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This news story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://ledgergazette.com/2018/03/22/nikes-nke-hold-rating-reaffirmed-at-pivotal-research.html.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.