Goldman Sachs Group set a $62.00 target price on Nike (NYSE:NKE) in a research note issued to investors on Wednesday. The brokerage currently has a neutral rating on the footwear maker’s stock.
Several other research analysts also recently weighed in on the stock. Vetr raised shares of Nike from a buy rating to a strong-buy rating and set a $59.09 target price for the company in a research note on Wednesday, September 6th. Robert W. Baird reissued a buy rating on shares of Nike in a research note on Friday, October 13th. Deutsche Bank reissued a buy rating and issued a $61.00 target price (down previously from $69.00) on shares of Nike in a research note on Wednesday, September 13th. Sanford C. Bernstein initiated coverage on shares of Nike in a research note on Tuesday, September 12th. They set an outperform rating and a $69.00 price objective for the company. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of Nike and gave the company a hold rating in a research note on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-two have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $64.09.
Nike (NYSE:NKE) opened at $63.98 on Wednesday. Nike has a one year low of $50.35 and a one year high of $65.18. The firm has a market cap of $104,384.45, a PE ratio of 27.70, a P/E/G ratio of 2.90 and a beta of 0.64. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.
Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. equities analysts expect that Nike will post 2.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Friday, December 1st. This is an increase from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio is 34.63%.
In other Nike news, EVP John F. Slusher sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00. Following the completion of the transaction, the executive vice president now owns 268,169 shares in the company, valued at approximately $16,918,782.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the transaction, the chief operating officer now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 967,896 shares of company stock valued at $60,257,267. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Asset Planning Services Ltd. boosted its holdings in Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the period. Stearns Financial Services Group boosted its holdings in Nike by 0.4% in the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after acquiring an additional 17 shares during the period. Smith Shellnut Wilson LLC ADV boosted its holdings in Nike by 0.3% in the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after acquiring an additional 41 shares during the period. Buckingham Asset Management LLC boosted its holdings in Nike by 0.7% in the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock worth $401,000 after acquiring an additional 45 shares during the period. Finally, Sullivan Bruyette Speros & Blaney LLC boosted its stake in shares of Nike by 1.0% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock valued at $357,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 62.67% of the company’s stock.
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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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