JPMorgan Chase & Co. restated their buy rating on shares of Nike (NYSE:NKE) in a research report sent to investors on Monday, The Fly reports. The firm currently has a $136.00 target price on the footwear maker’s stock, up from their prior target price of $118.00.
NKE has been the subject of a number of other research reports. Credit Suisse Group cut their price objective on Nike from $114.00 to $111.00 and set an outperform rating for the company in a research report on Friday, June 26th. Goldman Sachs Group reiterated a buy rating and set a $115.00 price objective on shares of Nike in a research report on Tuesday, August 18th. Deutsche Bank increased their price objective on Nike from $84.00 to $87.00 and gave the company a hold rating in a research report on Monday, June 15th. DZ Bank reiterated a sell rating on shares of Nike in a research report on Friday, June 26th. Finally, Robert W. Baird increased their price objective on Nike from $85.00 to $95.00 and gave the company a neutral rating in a research report on Thursday, June 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $113.41.
NKE opened at $118.59 on Monday. The company has a market capitalization of $186.06 billion, a price-to-earnings ratio of 75.06, a price-to-earnings-growth ratio of 3.13 and a beta of 0.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.48 and a quick ratio of 1.59. Nike has a 1-year low of $60.00 and a 1-year high of $120.48. The business has a 50 day moving average price of $107.68 and a two-hundred day moving average price of $94.81.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.53). The firm had revenue of $6.31 billion during 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 business’s revenue for the quarter was down 38.0% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. Equities analysts expect that Nike will post 2.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Friday, August 28th. Nike’s dividend payout ratio (DPR) is presently 52.97%.
In related news, insider Heidi O’neill sold 22,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $120.00, for a total value of $2,640,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Friend sold 75,700 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $119.70, for a total transaction of $9,061,290.00. The disclosure for this sale can be found here. Insiders sold 241,056 shares of company stock worth $26,663,725 over the last ninety days. 3.80% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Stuart Chaussee & Associates Inc. boosted its holdings in Nike by 668.9% in the first quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 301 shares in the last quarter. Perennial Advisors LLC bought a new stake in Nike in the first quarter worth $30,000. Demars Financial Group LLC bought a new stake in Nike during the second quarter valued at about $42,000. Bainco International Investors bought a new stake in Nike during the first quarter valued at about $52,000. Finally, U S Global Investors Inc. bought a new stake in Nike during the second quarter valued at about $53,000. Hedge funds and other institutional investors own 64.20% 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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