Nike (NYSE:NKE) Stock Rating Reaffirmed by UBS Group

UBS Group reissued their neutral rating on shares of Nike (NYSE:NKE) in a research note released on Tuesday, Borsen Zeitung reports. UBS Group currently has a $97.00 price target on the footwear maker’s stock.

A number of other analysts also recently commented on the company. DZ Bank reaffirmed a sell rating on shares of Nike in a research report on Wednesday, September 25th. Stifel Nicolaus set a $106.00 price target on shares of Nike and gave the company a buy rating in a report on Friday, October 11th. Barclays started coverage on shares of Nike in a report on Tuesday, November 12th. They issued an overweight rating and a $111.00 price target on the stock. ValuEngine downgraded shares of Nike from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, Exane BNP Paribas started coverage on shares of Nike in a report on Friday, October 4th. They issued an underperform rating and a $82.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $98.75.

Nike stock opened at $97.72 on Tuesday. Nike has a fifty-two week low of $66.53 and a fifty-two week high of $98.18. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.29 and a current ratio of 2.01. The firm’s 50-day simple moving average is $92.52 and its 200 day simple moving average is $87.73. The stock has a market cap of $151.70 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.15. Nike had a net margin of 10.81% and a return on equity of 47.92%. The firm had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.43 billion. During the same quarter last year, the firm earned $0.67 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Nike will post 2.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.245 dividend. This is a positive change from Nike’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.00%. Nike’s payout ratio is presently 39.36%.

In related news, CFO Andrew Campion sold 122,874 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $91.99, for a total value of $11,303,179.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $89.83, for a total transaction of $1,527,110.00. The disclosure for this sale can be found here. Insiders sold 592,374 shares of company stock valued at $54,907,589 in the last quarter. 3.80% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Resources Management Corp CT ADV bought a new position in Nike in the third quarter worth approximately $144,000. Man Group plc lifted its position in shares of Nike by 110.1% during the third quarter. Man Group plc now owns 2,107,158 shares of the footwear maker’s stock worth $197,887,000 after purchasing an additional 1,104,295 shares in the last quarter. Michael & Susan Dell Foundation purchased a new position in shares of Nike in the third quarter valued at approximately $551,000. Worldquant Millennium Advisors LLC boosted its stake in shares of Nike by 685.1% in the third quarter. Worldquant Millennium Advisors LLC now owns 394,690 shares of the footwear maker’s stock valued at $37,069,000 after purchasing an additional 344,420 shares during the period. Finally, IHT Wealth Management LLC boosted its stake in shares of Nike by 8.6% in the third quarter. IHT Wealth Management LLC now owns 8,064 shares of the footwear maker’s stock valued at $757,000 after purchasing an additional 641 shares during the period. 65.16% of the stock is owned by institutional investors.

About Nike

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.

Featured Story: Market Capitalization

Analyst Recommendations for Nike (NYSE:NKE)

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.