Nike, Inc. (NKE) Given “Hold” Rating at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reiterated their hold rating on shares of Nike, Inc. (NYSE:NKE) in a report released on Wednesday. Oppenheimer Holdings also issued estimates for Nike’s Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.60 EPS, FY2018 earnings at $2.20 EPS and FY2019 earnings at $2.40 EPS.
NKE has been the topic of several other reports. Piper Jaffray Companies set a $50.00 price target on Nike and gave the company a hold rating in a research note on Saturday, July 1st. BidaskClub upgraded Nike from a sell rating to a hold rating in a research note on Wednesday, June 14th. Vetr lowered Nike from a buy rating to a hold rating and set a $54.16 price target on the stock. in a research note on Monday, June 5th. Robert W. Baird restated an outperform rating and set a $62.00 price target on shares of Nike in a research note on Friday, June 30th. Finally, Citigroup Inc. restated a buy rating and set a $65.00 price target (down from $67.00) on shares of Nike in a research note on Wednesday. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $59.25.
Nike (NYSE NKE) opened at 51.85 on Wednesday. Nike has a 12 month low of $49.01 and a 12 month high of $60.53. The stock has a 50 day moving average price of $55.57 and a 200 day moving average price of $55.39. The firm has a market cap of $84.99 billion, a price-to-earnings ratio of 22.07 and a beta of 0.61.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, equities analysts expect that Nike will post $2.35 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is presently 30.64%.
In other news, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the completion of the transaction, the chief financial officer now owns 34,976 shares in the company, valued at approximately $2,077,574.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. In the last quarter, insiders have sold 362,117 shares of company stock valued at $20,935,321. Corporate insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Scotland Group PLC grew its holdings in shares of Nike by 6.2% in the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after acquiring an additional 12,201 shares in the last quarter. North Star Asset Management Inc. grew its holdings in shares of Nike by 7.8% in the 1st quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock valued at $3,162,000 after acquiring an additional 4,129 shares in the last quarter. Hartford Investment Management Co. grew its holdings in shares of Nike by 5.5% in the 2nd quarter. Hartford Investment Management Co. now owns 360,722 shares of the footwear maker’s stock valued at $21,283,000 after acquiring an additional 18,759 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of Nike by 2,434.9% in the 1st quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock valued at $15,798,000 after acquiring an additional 288,216 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Nike by 3.7% in the 1st quarter. Fifth Third Bancorp now owns 1,120,494 shares of the footwear maker’s stock valued at $62,445,000 after acquiring an additional 39,554 shares in the last quarter. Institutional investors own 62.63% 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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