Nike’s (NKE) “Neutral” Rating Reiterated at JPMorgan Chase & Co.
JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Nike (NYSE:NKE) in a research report sent to investors on Monday, The Fly reports. JPMorgan Chase & Co. currently has a $85.00 target price on the footwear maker’s stock.
A number of other research analysts have also commented on the company. Wedbush raised their price target on Nike from $85.00 to $90.00 and gave the company an outperform rating in a report on Monday, September 10th. Wells Fargo & Co set a $82.00 price target on Nike and gave the company a hold rating in a report on Monday, September 10th. Morgan Stanley set a $103.00 price target on Nike and gave the company a buy rating in a report on Tuesday, September 25th. Oppenheimer raised Nike from a market perform rating to an outperform rating and set a $90.00 target price on the stock in a report on Thursday, October 18th. Finally, HSBC reaffirmed a neutral rating and set a $92.00 target price on shares of Nike in a report on Wednesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $85.85.
Shares of NYSE NKE opened at $75.54 on Monday. The firm has a market capitalization of $120.36 billion, a price-to-earnings ratio of 31.21, a P/E/G ratio of 2.37 and a beta of 0.76. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. Nike has a 1-year low of $59.65 and a 1-year high of $86.04.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 30th. This is a positive change from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 1.16%. Nike’s dividend payout ratio (DPR) is presently 36.36%.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now directly owns 26,963 shares in the company, valued at approximately $2,293,203.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $85.00, for a total value of $1,445,000.00. Following the sale, the executive vice president now owns 104,737 shares of the company’s stock, valued at $8,902,645. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $4,219,350 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Chevy Chase Trust Holdings Inc. raised its stake in shares of Nike by 0.4% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 1,609,608 shares of the footwear maker’s stock worth $128,253,000 after purchasing an additional 6,256 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Nike by 7.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 21,710 shares of the footwear maker’s stock worth $1,730,000 after purchasing an additional 1,525 shares in the last quarter. Sustainable Insight Capital Management LLC raised its stake in shares of Nike by 30.3% during the 3rd quarter. Sustainable Insight Capital Management LLC now owns 4,564 shares of the footwear maker’s stock worth $387,000 after purchasing an additional 1,061 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Nike by 49.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 531,637 shares of the footwear maker’s stock worth $42,361,000 after purchasing an additional 175,587 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Nike by 362.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 684,436 shares of the footwear maker’s stock worth $54,536,000 after purchasing an additional 536,468 shares in the last quarter. Hedge funds and other institutional investors own 64.09% of the company’s stock.
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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