Nomura Reiterates $65.00 Price Target for Nike (NKE)

Nomura set a $65.00 price objective on Nike (NYSE:NKE) in a research note published on Friday. The firm currently has a buy rating on the footwear maker’s stock.

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.

Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.24%. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same period last year, the business earned $0.50 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. equities analysts anticipate that Nike will post 2.28 EPS for the current fiscal year.

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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About Nike

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.

Analyst Recommendations for Nike (NYSE:NKE)

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