Nike, Inc. (NKE) Receives “Buy” Rating from Piper Jaffray Companies
A number of other analysts have also recently commented on the company. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $62.00 price target on shares of Nike in a research report on Tuesday, April 18th. Deutsche Bank AG reaffirmed a buy rating and issued a $64.00 price objective on shares of Nike in a research report on Saturday, April 22nd. Jefferies Group LLC reaffirmed a buy rating and issued a $75.00 price objective on shares of Nike in a research report on Friday, May 5th. Berenberg Bank initiated coverage on Nike in a research report on Tuesday, May 16th. They issued a buy rating and a $70.00 price objective on the stock. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $66.00 price objective on shares of Nike in a research report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have issued a buy rating to the stock. Nike currently has an average rating of Buy and a consensus target price of $61.04.
Nike (NYSE NKE) traded up 0.401% on Thursday, hitting $58.905. The stock had a trading volume of 3,862,741 shares. The company has a market cap of $96.79 billion, a P/E ratio of 23.468 and a beta of 0.59. Nike has a 1-year low of $49.01 and a 1-year high of $60.33. The stock has a 50 day moving average price of $56.05 and a 200 day moving average price of $55.16.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same period in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts expect that Nike will post $2.42 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Monday, June 5th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, June 1st. Nike’s payout ratio is 28.69%.
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 value of $1,630,983.20. Following the completion of the transaction, the chief accounting officer now owns 177,723 shares of the company’s stock, valued at approximately $10,325,706.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Campion sold 96,243 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the transaction, the chief financial officer now directly owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 380,037 shares of company stock valued at $21,901,923. 3.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. V Wealth Management LLC acquired a new position in shares of Nike during the second quarter worth approximately $100,000. Crestwood Advisors Group LLC acquired a new position in shares of Nike during the first quarter worth approximately $117,000. Webster Bank N. A. increased its position in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares during the last quarter. Gierl Augustine Investment Management Inc increased its position in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares during the last quarter. Finally, Asset Planning Services Ltd. acquired a new position in shares of Nike during the first quarter worth approximately $118,000. 64.28% of the stock is owned by hedge funds and other institutional investors.
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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