Nike (NKE) Rating Reiterated by Credit Suisse Group
Credit Suisse Group reissued their buy rating on shares of Nike (NYSE:NKE) in a research report released on Friday morning. The brokerage currently has a $97.00 target price on the footwear maker’s stock.
Other research analysts have also issued reports about the company. Macquarie set a $98.00 price objective on Nike and gave the company a buy rating in a report on Tuesday, December 4th. UBS Group set a $78.00 price objective on Nike and gave the company a neutral rating in a report on Thursday, December 27th. JPMorgan Chase & Co. upped their price objective on Nike from $85.00 to $90.00 and gave the company an overweight rating in a report on Tuesday. HSBC raised Nike from a hold rating to a buy rating and upped their price objective for the company from $92.00 to $95.00 in a report on Tuesday, January 8th. Finally, Zacks Investment Research lowered Nike from a hold rating to a sell rating in a report on Monday, December 3rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-six have issued a buy rating to the stock. Nike has a consensus rating of Buy and an average price target of $86.96.
NYSE NKE traded down $5.82 on Friday, reaching $82.19. The stock had a trading volume of 21,649,087 shares, compared to its average volume of 5,946,643. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.14 and a quick ratio of 1.40. Nike has a 1-year low of $63.21 and a 1-year high of $88.59. The firm has a market cap of $138.51 billion, a price-to-earnings ratio of 34.38, a P/E/G ratio of 2.71 and a beta of 0.68.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.07%. Nike’s dividend payout ratio is currently 36.36%.
In related news, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the completion of the sale, the chairman now directly owns 1,687,863 shares in the company, valued at approximately $124,361,745.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total value of $1,455,465.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 816,500 shares of company stock valued at $63,317,465. 3.90% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Pinnacle Bank bought a new stake in shares of Nike during the 4th quarter worth $424,000. Centric Wealth Management bought a new position in Nike in the fourth quarter valued at about $261,000. CMC Financial Group bought a new position in Nike in the fourth quarter valued at about $651,000. Van Leeuwen & Company LLC raised its position in Nike by 3.4% in the fourth quarter. Van Leeuwen & Company LLC now owns 4,655 shares of the footwear maker’s stock valued at $345,000 after purchasing an additional 155 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Nike by 19.7% in the fourth quarter. American Century Companies Inc. now owns 6,357,307 shares of the footwear maker’s stock valued at $471,331,000 after purchasing an additional 1,047,428 shares during the last quarter. Institutional investors and hedge funds own 64.77% 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.
See Also: Liquidity
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