Nike, Inc. (NKE) Rating Reiterated by Susquehanna Bancshares Inc
Susquehanna Bancshares Inc reiterated their neutral rating on shares of Nike, Inc. (NYSE:NKE) in a research report report published on Tuesday, MarketBeat reports. They currently have a $64.00 price target on the footwear maker’s stock.
Several other analysts have also commented on NKE. Canaccord Genuity set a $51.00 price target on shares of Nike and gave the company a hold rating in a research report on Friday, May 26th. Piper Jaffray Companies set a $50.00 price target on shares of Nike and gave the company a hold rating in a research report on Thursday, June 1st. Zacks Investment Research lowered shares of Nike from a hold rating to a sell rating in a research report on Friday, June 2nd. Vetr lowered shares of Nike from a buy rating to a hold rating and set a $54.16 price target on the stock. in a research report on Monday, June 5th. Finally, Morgan Stanley restated a neutral rating and set a $56.00 price target on shares of Nike in a research report on Wednesday, June 7th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $60.04.
Nike (NYSE NKE) opened at 53.24 on Tuesday. The stock has a market cap of $87.48 billion, a PE ratio of 21.21 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’s 50 day moving average is $55.57 and its 200-day moving average is $55.39.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.49 earnings per share. Equities research analysts forecast 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 issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is currently 28.69%.
In related news, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the transaction, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction 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. Insiders sold 508,360 shares of company stock valued at $29,340,374 in the last quarter. 3.90% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Asset Planning Services Ltd. lifted its stake in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the last quarter. Stearns Financial Services Group lifted its stake in Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after acquiring an additional 17 shares during the last quarter. Accredited Investors Inc. lifted its stake in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after acquiring an additional 19 shares during the last quarter. Montecito Bank & Trust lifted its stake in Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after acquiring an additional 24 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV lifted its stake in Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after acquiring an additional 41 shares during 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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