A number of other equities analysts have also recently commented on the company. Jefferies Group LLC cut Nike to a buy rating in a report on Tuesday, August 29th. Vetr cut Nike from a strong-buy rating to a buy rating and set a $59.57 price target for the company. in a report on Monday, September 4th. Berenberg Bank initiated coverage on Nike in a report on Tuesday, May 16th. They set a buy rating and a $70.00 price target for the company. Stifel Nicolaus reiterated a buy rating and set a $66.00 price target on shares of Nike in a report on Friday, June 30th. Finally, Morgan Stanley upgraded Nike from an equal weight rating to an overweight rating and lifted their price target for the stock from $56.00 to $68.00 in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $60.66.
Nike (NKE) opened at 53.40 on Friday. The firm has a market cap of $87.75 billion, a PE ratio of 21.27 and a beta of 0.61. The company’s 50 day moving average price is $56.46 and its 200 day moving average price is $55.56. Nike has a 52-week low of $49.01 and a 52-week high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. Nike’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. Analysts predict that Nike will post $2.41 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be paid a $0.18 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. Nike’s dividend payout ratio is 28.69%.
In related news, CFO Andrew Campion sold 5,722 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $59.40, for a total value of $339,886.80. Following the sale, the chief financial officer now owns 34,976 shares of the company’s stock, valued at $2,077,574.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Hilary K. Krane sold 28,072 shares of the business’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the completion of the sale, the chief accounting officer now directly owns 177,723 shares in the company, valued at approximately $10,325,706.30. The disclosure for this sale can be found here. In the last three months, insiders sold 492,360 shares of company stock worth $28,485,174. 3.90% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Nike by 2.5% in the second quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock valued at $5,876,718,000 after buying an additional 2,452,993 shares during the period. State Street Corp lifted its holdings in Nike by 1.4% in the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after buying an additional 835,003 shares during the period. Wellington Management Group LLP lifted its holdings in Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares during the period. Bank of New York Mellon Corp lifted its holdings in Nike by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after buying an additional 144,846 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares during the period. Institutional investors and hedge funds own 62.72% of the company’s stock.
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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