Nike, Inc. (NKE) Given a $64.00 Price Target at Buckingham Research
NKE has been the subject of several other reports. Morgan Stanley reiterated a buy rating and issued a $64.00 target price (down from $68.00) on shares of Nike in a report on Tuesday, August 29th. Telsey Advisory Group lowered their target price on Nike from $63.00 to $61.00 and set an outperform rating for the company in a report on Wednesday, August 30th. Vetr upgraded 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. Cowen and Company set a $54.00 target price on Nike and gave the stock a hold rating in a report on Friday, August 4th. Finally, Wells Fargo & Company reiterated a market perform rating and issued a $55.00 target price (down from $56.00) on shares of Nike in a report on Tuesday, September 19th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $59.14.
Nike (NYSE NKE) traded up 0.4037% during trading on Tuesday, reaching $52.2099. The company’s stock had a trading volume of 5,625,884 shares. The firm’s 50-day moving average price is $52.64 and its 200 day moving average price is $54.80. Nike has a 12-month low of $49.01 and a 12-month high of $60.53. The company has a market capitalization of $85.58 billion, a P/E ratio of 22.2264 and a beta of 0.61.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the prior year, the business earned $0.73 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts predict that Nike will post $2.32 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.38%. Nike’s dividend payout ratio (DPR) is 30.64%.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the sale, the chief financial officer now directly owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,045 shares of company stock valued at $7,778,338. 3.90% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Tandem Investment Advisors Inc. increased its stake in Nike by 1.2% during the third quarter. Tandem Investment Advisors Inc. now owns 120,173 shares of the footwear maker’s stock worth $6,231,000 after acquiring an additional 1,393 shares during the last quarter. Bath Savings Trust Co increased its stake in Nike by 0.5% during the third quarter. Bath Savings Trust Co now owns 214,962 shares of the footwear maker’s stock worth $11,146,000 after acquiring an additional 1,140 shares during the last quarter. Perpetual Ltd increased its stake in Nike by 41.5% during the second quarter. Perpetual Ltd now owns 114,400 shares of the footwear maker’s stock worth $6,750,000 after acquiring an additional 33,539 shares during the last quarter. Perigon Wealth Management LLC increased its stake in Nike by 51.3% during the second quarter. Perigon Wealth Management LLC now owns 63,834 shares of the footwear maker’s stock worth $3,773,000 after acquiring an additional 21,657 shares during the last quarter. Finally, Griffin Asset Management Inc. acquired a new stake in Nike during the second quarter worth $465,000. 62.55% of the stock is owned by 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.
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