Bank of America reissued their sell rating on shares of Nike (NYSE:NKE) in a report released on Friday. The brokerage currently has a $50.00 price target on the footwear maker’s stock.

Other equities analysts have also recently issued reports about the stock. Wedbush upped their price objective on shares of Nike from $85.00 to $90.00 and gave the company an outperform rating in a research report on Monday, September 10th. Morgan Stanley reissued a buy rating and issued a $88.00 price objective on shares of Nike in a research report on Wednesday, September 12th. UBS Group cut shares of Nike from a buy rating to a neutral rating and upped their price objective for the company from $76.00 to $78.00 in a research report on Thursday, June 21st. Wells Fargo & Co set a $82.00 price objective on shares of Nike and gave the company a neutral rating in a research report on Monday, August 6th. Finally, Telsey Advisory Group upped their price objective on shares of Nike from $87.00 to $92.00 and gave the company an outperform rating in a research report on Tuesday, September 18th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $82.65.

NYSE:NKE opened at $85.55 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.51 and a quick ratio of 1.63. The stock has a market capitalization of $136.93 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.85 and a beta of 0.70. Nike has a 1-year low of $50.35 and a 1-year high of $86.04.

Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 28th. The footwear maker reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $9.79 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Nike had a net margin of 5.31% and a return on equity of 36.57%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. sell-side analysts expect that Nike will post 2.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.80 annualized dividend and a dividend yield of 0.94%. Nike’s payout ratio is 33.06%.

Nike declared that its Board of Directors has approved a stock repurchase program on Thursday, June 28th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the footwear maker to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In related news, CAO Hilary K. Krane sold 40,000 shares of the stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $76.51, for a total transaction of $3,060,400.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 150,000 shares of the stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $79.07, for a total transaction of $11,860,500.00. Following the sale, the insider now owns 241,959 shares in the company, valued at approximately $19,131,698.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 365,778 shares of company stock worth $29,131,176. 3.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in Nike during the second quarter worth about $104,000. BDO Wealth Advisors LLC raised its stake in Nike by 1,044.3% during the second quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock worth $111,000 after acquiring an additional 1,274 shares during the period. CSat Investment Advisory L.P. acquired a new stake in Nike during the second quarter worth about $119,000. Bruderman Asset Management LLC acquired a new stake in Nike during the first quarter worth about $129,000. Finally, Tyvor Capital LLC acquired a new stake in Nike during the second quarter worth about $160,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Analyst Recommendations for Nike (NYSE:NKE)

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