Nike, Inc. (NKE) Earns Hold Rating from Analysts at Pivotal Research
Pivotal Research began coverage on shares of Nike, Inc. (NYSE:NKE) in a research report sent to investors on Thursday, Marketbeat.com reports. The firm issued a hold rating and a $56.00 price target on the footwear maker’s stock.
A number of other research analysts have also weighed in on the stock. Jefferies Group LLC lowered shares of Nike to a buy rating in a research note on Tuesday, August 29th. Vetr lowered shares of Nike from a strong-buy rating to a buy rating and set a $59.57 target price on the stock. in a research note on Monday, September 4th. Stifel Nicolaus reissued a buy rating and issued a $66.00 target price on shares of Nike in a research note on Friday, June 30th. Morgan Stanley raised shares of Nike from an equal weight rating to an overweight rating and raised their target price for the stock from $56.00 to $68.00 in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG set a $63.00 target price on shares of Nike and gave the stock a buy rating in a research note on Tuesday, June 20th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $59.14.
Nike (NYSE NKE) traded up 0.46% during midday trading on Thursday, hitting $52.42. The company had a trading volume of 5,360,267 shares. The firm has a market capitalization of $85.92 billion, a P/E ratio of 22.32 and a beta of 0.61. Nike has a 1-year low of $49.01 and a 1-year high of $60.53. The company has a 50 day moving average price of $53.09 and a 200 day moving average price of $55.00.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same period last year, the company posted $0.73 EPS. The business’s revenue was up .1% on a year-over-year basis. Equities research analysts forecast that Nike will post $2.32 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th were issued a $0.18 dividend. The ex-dividend date was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. Nike’s payout ratio is 30.64%.
In related news, CAO Hilary K. Krane sold 28,072 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the completion of the transaction, the chief accounting officer now directly owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the transaction, the director now directly owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. Insiders sold 162,117 shares of company stock valued at $9,409,321 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. V Wealth Management LLC purchased a new position in Nike during the second quarter worth about $100,000. Webster Bank N. A. raised its holdings in Nike by 75.5% during the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after purchasing an additional 900 shares in the last quarter. Asset Planning Services Ltd. raised its holdings in Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares in the last quarter. Atlantic Trust LLC purchased a new position in Nike during the second quarter worth about $136,000. Finally, Kistler Tiffany Companies LLC raised its holdings in Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares in the last quarter. 62.64% of the stock is owned by hedge funds and other institutional investors.
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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