Nike (NYSE:NKE) Reaches New 12-Month High at $97.16

Shares of Nike Inc (NYSE:NKE) hit a new 52-week high during trading on Friday . The company traded as high as $97.16 and last traded at $96.97, with a volume of 187096 shares trading hands. The stock had previously closed at $95.79.

A number of brokerages have recently commented on NKE. Oppenheimer lifted their price objective on shares of Nike from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Robert W. Baird set a $87.00 price objective on Nike and gave the company a “hold” rating in a research note on Monday, September 23rd. Goldman Sachs Group raised Nike from a “neutral” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Thursday. Piper Jaffray Companies lifted their target price on Nike from $97.00 to $101.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, UBS Group boosted their target price on Nike from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-three have given a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and an average target price of $98.19.

The stock’s 50-day moving average price is $92.38 and its 200-day moving average price is $87.31. The company has a market cap of $151.42 billion, a P/E ratio of 38.96, a PEG ratio of 2.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.01 and a quick ratio of 1.29.

Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 24th. The footwear maker reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.15. Nike had a net margin of 10.81% and a return on equity of 47.92%. The business had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.43 billion. During the same period last year, the firm earned $0.67 earnings per share. Nike’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts expect that Nike Inc will post 2.97 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.245 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.98 dividend on an annualized basis and a yield of 1.01%. This is an increase from Nike’s previous quarterly dividend of $0.22. Nike’s payout ratio is currently 39.36%.

In other news, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $89.83, for a total value of $1,527,110.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elliott Hill sold 2,770 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $86.96, for a total value of $240,879.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 601,445 shares of company stock worth $55,696,403. Company insiders own 3.80% of the company’s stock.

A number of large investors have recently modified their holdings of NKE. Vanguard Group Inc. increased its position in shares of Nike by 1.4% in the second quarter. Vanguard Group Inc. now owns 105,374,269 shares of the footwear maker’s stock worth $8,846,169,000 after purchasing an additional 1,469,583 shares during the period. BlackRock Inc. grew its stake in Nike by 2.2% during the second quarter. BlackRock Inc. now owns 87,672,220 shares of the footwear maker’s stock worth $7,360,079,000 after buying an additional 1,883,150 shares in the last quarter. Jennison Associates LLC increased its holdings in Nike by 13.6% in the 2nd quarter. Jennison Associates LLC now owns 23,510,331 shares of the footwear maker’s stock valued at $1,973,692,000 after buying an additional 2,809,878 shares during the period. Northern Trust Corp raised its position in shares of Nike by 0.4% in the 2nd quarter. Northern Trust Corp now owns 21,011,376 shares of the footwear maker’s stock valued at $1,763,905,000 after buying an additional 73,514 shares in the last quarter. Finally, Edgewood Management LLC raised its position in shares of Nike by 1.1% in the 2nd quarter. Edgewood Management LLC now owns 16,990,039 shares of the footwear maker’s stock valued at $1,426,314,000 after buying an additional 183,581 shares in the last quarter. 65.12% of the stock is currently owned by institutional investors and hedge funds.

Nike Company Profile (NYSE:NKE)

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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