Nike (NKE) Receives Hold Rating from Wedbush
Wedbush reiterated their hold rating on shares of Nike (NYSE:NKE) in a research note released on Thursday morning. The brokerage currently has a $57.00 price objective on the footwear maker’s stock, up from their previous price objective of $52.00. Wedbush also issued estimates for Nike’s Q3 2018 earnings at $0.61 EPS.
Several other analysts have also recently weighed in on NKE. B. Riley reissued a neutral rating on shares of Nike in a research note on Wednesday, November 1st. Susquehanna Bancshares reissued a hold rating and issued a $57.00 price target on shares of Nike in a research note on Wednesday. Jefferies Group reissued a hold rating and issued a $48.00 price target (down previously from $49.00) on shares of Nike in a research note on Wednesday, September 27th. Canaccord Genuity reissued a hold rating and issued a $50.00 price target (down previously from $51.00) on shares of Nike in a research note on Wednesday, September 27th. Finally, Vetr cut shares of Nike from a hold rating to a sell rating and set a $59.88 price target for the company. in a research note on Thursday. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $60.67.
Nike (NKE) traded up $0.26 during trading on Thursday, hitting $64.79. 15,659,261 shares of the stock traded hands, compared to its average volume of 9,605,064. Nike has a twelve month low of $50.35 and a twelve month high of $65.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. The stock has a market cap of $104,906.55, a PE ratio of 27.36, a price-to-earnings-growth ratio of 3.01 and a beta of 0.64.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. Nike’s dividend payout ratio is 34.04%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the sale, the executive vice president now owns 23,248 shares in the company, valued at $1,441,376. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in NKE. Willingdon Wealth Management purchased a new stake in shares of Nike in the 3rd quarter valued at approximately $114,000. Asset Planning Services Ltd. increased its position in shares of Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 7 shares during the last quarter. Atlantic Trust LLC purchased a new stake in shares of Nike in the 2nd quarter valued at approximately $136,000. Howe & Rusling Inc. increased its position in shares of Nike by 751.3% in the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after purchasing an additional 2,329 shares during the last quarter. Finally, Kistler Tiffany Companies LLC increased its position in shares of Nike by 91.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after purchasing an additional 1,209 shares during the last quarter. 62.78% of the stock is currently owned by 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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