Nike (NKE) Receives Buy Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their buy rating on shares of Nike (NYSE:NKE) in a report issued on Friday morning, Borsen Zeitung reports. The firm currently has a $90.00 price objective on the footwear maker’s stock.

Other analysts have also recently issued reports about the company. Piper Jaffray Companies set a $93.00 target price on Nike and gave the company a buy rating in a research report on Friday, March 22nd. Macquarie set a $96.00 target price on Nike and gave the company a buy rating in a research report on Friday, March 22nd. Credit Suisse Group set a $90.00 target price on Nike and gave the company a buy rating in a research report on Wednesday, January 2nd. Citigroup began coverage on Nike in a research report on Wednesday, April 10th. They issued a buy rating and a $100.00 target price on the stock. Finally, Nomura raised their target price on Nike from $85.00 to $91.00 and gave the company a buy rating in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $87.10.

Shares of Nike stock opened at $86.83 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.17. The company has a market cap of $135.72 billion, a PE ratio of 35.88, a P/E/G ratio of 2.56 and a beta of 0.67. Nike has a twelve month low of $64.99 and a twelve month high of $88.59.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The business had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Nike had a return on equity of 45.78% and a net margin of 10.79%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. As a group, research analysts expect that Nike will post 2.55 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, March 1st. Nike’s payout ratio is currently 36.36%.

In other news, CEO Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $80.00, for a total transaction of $12,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,687,863 shares of the company’s stock, valued at approximately $135,029,040. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total value of $1,455,465.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 576,500 shares of company stock valued at $46,807,665. Corporate insiders own 3.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toth Financial Advisory Corp boosted its stake in shares of Nike by 67.7% during the 1st quarter. Toth Financial Advisory Corp now owns 9,644 shares of the footwear maker’s stock worth $812,000 after acquiring an additional 3,893 shares in the last quarter. Sciencast Management LP boosted its stake in shares of Nike by 87.9% during the 1st quarter. Sciencast Management LP now owns 14,566 shares of the footwear maker’s stock worth $1,227,000 after acquiring an additional 6,816 shares in the last quarter. Strategic Advisors LLC boosted its stake in shares of Nike by 17.2% during the 1st quarter. Strategic Advisors LLC now owns 3,229 shares of the footwear maker’s stock worth $272,000 after acquiring an additional 474 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Nike by 18.4% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 900 shares of the footwear maker’s stock worth $76,000 after acquiring an additional 140 shares in the last quarter. Finally, Tandem Investment Advisors Inc. boosted its stake in shares of Nike by 4.4% during the 1st quarter. Tandem Investment Advisors Inc. now owns 150,305 shares of the footwear maker’s stock worth $12,657,000 after acquiring an additional 6,329 shares in the last quarter. 65.62% of the stock is owned by institutional investors and hedge funds.

Nike Company Profile

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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Analyst Recommendations for Nike (NYSE:NKE)

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