Nike, Inc. (NKE) Given a $54.00 Price Target at J P Morgan Chase & Co
NKE has been the subject of several other reports. Piper Jaffray Companies set a $50.00 target price on shares of Nike and gave the stock a hold rating in a research report on Thursday, June 1st. Zacks Investment Research cut shares of Nike from a hold rating to a sell rating in a research report on Friday, June 2nd. Vetr cut shares of Nike from a buy rating to a hold rating and set a $54.16 target price for the company. in a research report on Monday, June 5th. Morgan Stanley reaffirmed a neutral rating and issued a $56.00 target price on shares of Nike in a research report on Wednesday, June 7th. Finally, Berenberg Bank reaffirmed a buy rating and issued a $70.00 target price on shares of Nike in a research report on Wednesday, June 14th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. Nike presently has a consensus rating of Hold and an average price target of $59.25.
Shares of Nike (NYSE NKE) opened at 51.85 on Wednesday. The company has a market capitalization of $84.99 billion, a P/E ratio of 22.07 and a beta of 0.61. Nike has a 1-year low of $49.01 and a 1-year high of $60.53. The firm has a 50-day moving average of $55.57 and a 200 day moving average of $55.39.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 EPS. On average, equities research analysts expect that Nike will post $2.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s payout ratio is currently 30.64%.
In other news, CFO Andrew Campion sold 5,722 shares of Nike stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the sale, the chief financial officer now owns 34,976 shares in the company, valued at $2,077,574.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the sale, the insider now owns 729,610 shares in the company, valued at approximately $42,047,424.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 362,117 shares of company stock worth $20,935,321. Company insiders own 3.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in NKE. Janus Henderson Group PLC raised its position in shares of Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after buying an additional 16,237,557 shares during the last quarter. Jennison Associates LLC raised its position in shares of Nike by 124.7% during 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 last quarter. Capital World Investors raised its position in shares of Nike by 58.7% during the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after buying an additional 8,058,601 shares during the last quarter. OppenheimerFunds Inc. raised its position in shares of Nike by 7,020.1% during the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock valued at $298,145,000 after buying an additional 5,274,656 shares during the last quarter. Finally, Orbis Allan Gray Ltd bought a new stake in shares of Nike during the second quarter valued at approximately $226,588,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.
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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