Vetr upgraded shares of Nike, Inc. (NYSE:NKE) from a buy rating to a strong-buy rating in a research note released on Wednesday. The firm currently has $59.09 price target on the footwear maker’s stock.
A number of other equities analysts also recently commented on the company. Telsey Advisory Group reduced their price objective on Nike from $63.00 to $61.00 and set an outperform rating on the stock in a research report on Wednesday, August 30th. Morgan Stanley reiterated a buy rating and set a $64.00 price objective (down previously from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Jefferies Group LLC downgraded Nike to a buy rating in a research report on Tuesday, August 29th. Needham & Company LLC reiterated a hold rating on shares of Nike in a research report on Thursday, August 24th. Finally, Stifel Nicolaus reiterated a buy rating and set a $66.00 price objective on shares of Nike in a research report on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Nike currently has a consensus rating of Buy and an average price target of $60.35.
Nike (NYSE:NKE) traded down 0.36% during mid-day trading on Wednesday, reaching $52.20. The company had a trading volume of 8,563,283 shares. The stock has a market capitalization of $85.77 billion, a price-to-earnings ratio of 20.80 and a beta of 0.61. The stock has a 50 day moving average of $56.66 and a 200 day moving average of $55.62. Nike has a 52 week low of $49.01 and a 52 week high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same quarter last year, the business posted $0.49 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Nike will post $2.41 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio is presently 28.69%.
In other Nike news, insider Trevor A. Edwards sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the sale, the insider now directly owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Campion sold 96,243 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the sale, the chief financial officer now directly owns 50,246 shares of the company’s stock, valued at $2,847,943.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 492,360 shares of company stock valued at $28,485,174. 3.90% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of NKE. State of Alaska Department of Revenue purchased a new stake in Nike during the 1st quarter valued at approximately $169,000. Windward Capital Management Co. CA raised its stake in Nike by 0.4% during the 1st quarter. Windward Capital Management Co. CA now owns 402,011 shares of the footwear maker’s stock valued at $22,404,000 after acquiring an additional 1,494 shares during the last quarter. Cape Cod Five Cents Savings Bank raised its stake in Nike by 0.7% during the 1st quarter. Cape Cod Five Cents Savings Bank now owns 106,452 shares of the footwear maker’s stock valued at $5,933,000 after acquiring an additional 696 shares during the last quarter. Monarch Capital Management Inc. raised its stake in Nike by 1.4% during the 1st quarter. Monarch Capital Management Inc. now owns 5,495 shares of the footwear maker’s stock valued at $306,000 after acquiring an additional 75 shares during the last quarter. Finally, Raub Brock Capital Management LP raised its stake in Nike by 5.5% during the 1st quarter. Raub Brock Capital Management LP now owns 245,981 shares of the footwear maker’s stock valued at $13,709,000 after acquiring an additional 12,730 shares during the last quarter. 62.72% of the stock is owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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