Nike Inc (NYSE:NKE) has earned a consensus rating of “Buy” from the thirty-eight brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $113.19.
Several research analysts have recently issued reports on NKE shares. Pivotal Research reaffirmed a “buy” rating and set a $115.00 price objective on shares of Nike in a research report on Tuesday, June 23rd. Barclays upped their price objective on Nike from $92.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. BMO Capital Markets reaffirmed a “buy” rating and set a $100.00 price objective on shares of Nike in a research report on Friday, June 26th. Robert W. Baird upped their target price on Nike from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Finally, Morgan Stanley upped their target price on Nike from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st.
In related news, CAO Hilary K. Krane sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $96.33, for a total value of $1,059,630.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heidi O’neill sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $105.00, for a total value of $1,050,000.00. The disclosure for this sale can be found here. Insiders sold a total of 143,356 shares of company stock valued at $14,962,435 over the last ninety days. 3.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado grew its holdings in Nike by 14.0% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 2,101,180 shares of the footwear maker’s stock valued at $173,852,000 after buying an additional 258,577 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Nike by 26.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,581,584 shares of the footwear maker’s stock valued at $130,860,000 after buying an additional 326,628 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Nike during the 1st quarter valued at $252,000. Cetera Advisor Networks LLC grew its holdings in Nike by 6.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 41,964 shares of the footwear maker’s stock valued at $3,472,000 after buying an additional 2,410 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Nike by 12.7% during the 1st quarter. Cetera Investment Advisers now owns 7,729 shares of the footwear maker’s stock valued at $640,000 after buying an additional 870 shares during the last quarter. 64.20% of the stock is owned by hedge funds and other institutional investors.
NYSE NKE traded down $0.65 during trading hours on Wednesday, hitting $118.62. 456,717 shares of the company were exchanged, compared to its average volume of 7,756,601. The company has a 50 day moving average of $107.26 and a two-hundred day moving average of $94.68. The company has a quick ratio of 1.59, a current ratio of 2.48 and a debt-to-equity ratio of 1.17. Nike has a 52-week low of $60.00 and a 52-week high of $120.48. The firm has a market cap of $186.06 billion, a price-to-earnings ratio of 75.32, a PEG ratio of 3.13 and a beta of 0.83.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.53). The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $7.26 billion. Nike had a return on equity of 32.95% and a net margin of 6.79%. The company’s revenue was down 38.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 earnings per share. On average, equities research analysts predict that Nike will post 2.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, August 28th. Nike’s dividend payout ratio (DPR) is 52.97%.
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.
Further Reading: Limitations of the P/E Growth ratio
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