NKE has been the subject of several other reports. Morgan Stanley reiterated a buy rating and set a $64.00 target price (down from $68.00) on shares of Nike in a report on Tuesday, August 29th. Vetr upgraded shares of Nike from a buy rating to a strong-buy rating and set a $59.09 target price for the company in a report on Wednesday, September 6th. Telsey Advisory Group lowered their target price on shares of Nike from $63.00 to $61.00 and set an outperform rating for the company in a report on Wednesday, August 30th. Argus upgraded shares of Nike from a hold rating to a buy rating and boosted their price objective for the stock from $50.35 to $64.46 in a report on Thursday, December 14th. Finally, Wells Fargo & Co restated a market perform rating and issued a $55.00 price objective (down from $56.00) on shares of Nike in a report on Tuesday, September 19th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-two have given a buy rating to the company. Nike presently has an average rating of Hold and an average price target of $63.52.
Shares of Nike (NYSE:NKE) opened at $63.29 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Nike has a 1-year low of $50.35 and a 1-year high of $65.18. The company has a market cap of $103,260.00, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.04 and a beta of 0.64.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 1st. This is an increase from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. Nike’s dividend payout ratio (DPR) is currently 34.63%.
In related news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the sale, the chairman now owns 1,502,830 shares of the company’s stock, valued at $97,683,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the sale, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,094 shares of company stock worth $17,480,160. Insiders own 3.90% of the company’s stock.
A number of large investors have recently bought and sold shares of NKE. BB&T Securities LLC raised its holdings in shares of Nike by 59.3% in the first quarter. BB&T Securities LLC now owns 77,831 shares of the footwear maker’s stock worth $4,337,000 after buying an additional 28,988 shares during the last quarter. Polen Capital Management LLC raised its holdings in shares of Nike by 9.0% in the first quarter. Polen Capital Management LLC now owns 11,350,849 shares of the footwear maker’s stock worth $632,583,000 after buying an additional 940,716 shares during the last quarter. ZWJ Investment Counsel Inc. purchased a new position in shares of Nike in the first quarter worth $586,000. Credit Agricole S A raised its holdings in shares of Nike by 1.5% in the first quarter. Credit Agricole S A now owns 1,130,809 shares of the footwear maker’s stock worth $63,020,000 after buying an additional 16,880 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Nike by 6.4% in the first quarter. Van ECK Associates Corp now owns 23,961 shares of the footwear maker’s stock worth $1,335,000 after buying an additional 1,438 shares during the last quarter. 62.56% of the stock is owned by institutional investors.
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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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