Nike Inc (NYSE:NKE)‘s stock had its “buy” rating reissued by analysts at Deutsche Bank AG in a report issued on Saturday, April 22nd. They currently have a $64.00 price target on the footwear maker’s stock. Deutsche Bank AG’s target price points to a potential upside of 23.62% from the stock’s current price.
A number of other equities analysts have also recently weighed in on NKE. Canaccord Genuity reaffirmed a “hold” rating and set a $51.00 price objective on shares of Nike in a research report on Friday, December 23rd. B. Riley reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Nike in a research report on Monday, December 26th. Stifel Nicolaus set a $68.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Sunday, December 25th. JPMorgan Chase & Co. set a $57.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday, December 27th. Finally, Jefferies Group LLC set a $75.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday, December 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $60.93.
Shares of Nike (NYSE:NKE) traded up 0.17% during mid-day trading on Friday, hitting $51.77. The stock had a trading volume of 20,047,766 shares. The stock’s 50-day moving average price is $54.76 and its 200-day moving average price is $53.85. Nike has a 52-week low of $49.01 and a 52-week high of $60.33. The firm has a market cap of $85.46 billion, a PE ratio of 21.60 and a beta of 0.44. Nike also was the target of unusually large options trading activity on Friday. Investors purchased 1,327 put options on the company. This represents an increase of approximately 112% compared to the typical volume of 626 put options.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.15. The firm had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $8.47 billion. Nike had a net margin of 11.60% and a return on equity of 31.70%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS. On average, analysts anticipate that Nike will post $2.40 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Monday, June 5th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Thursday, June 1st. Nike’s dividend payout ratio is currently 31.72%.
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In related news, Chairman Mark G. Parker sold 100,000 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $55.50, for a total transaction of $5,550,000.00. Following the sale, the chairman now owns 1,966,235 shares of the company’s stock, valued at $109,126,042.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $57.00, for a total transaction of $2,850,000.00. Following the sale, the insider now directly owns 300,108 shares in the company, valued at approximately $17,106,156. The disclosure for this sale can be found here. In the last three months, insiders have sold 379,000 shares of company stock worth $21,213,800. 3.90% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Nike by 2,576.9% in the first quarter. BlackRock Inc. now owns 80,846,138 shares of the footwear maker’s stock valued at $4,505,554,000 after buying an additional 77,826,052 shares during the period. Jennison Associates LLC increased its stake in shares of Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares during the period. Norges Bank acquired a new stake in shares of Nike during the fourth quarter valued at about $463,411,000. OppenheimerFunds Inc. increased its stake in shares of Nike by 7,020.1% in the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock valued at $298,145,000 after buying an additional 5,274,656 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Nike by 4.2% in the first quarter. Vanguard Group Inc. now owns 97,152,415 shares of the footwear maker’s stock valued at $5,414,304,000 after buying an additional 3,925,394 shares during the period. 62.23% 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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