Nike (NKE) Given a $62.00 Price Target by Pivotal Research Analysts
NKE has been the topic of several other research reports. Morgan Stanley restated a buy rating and set a $64.00 price target (down previously from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Vetr upgraded Nike from a buy rating to a strong-buy rating and set a $59.09 price target on the stock in a research note on Wednesday, September 6th. Telsey Advisory Group cut their price target on Nike from $63.00 to $61.00 and set an outperform rating on the stock in a research note on Wednesday, August 30th. Argus upgraded Nike from a hold rating to a buy rating and raised their price target for the company from $50.35 to $64.46 in a research note on Thursday, December 14th. Finally, Wells Fargo & Co restated a market perform rating and set a $55.00 price target (down previously from $56.00) on shares of Nike in a research note on Tuesday, September 19th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-two have assigned a buy rating to the company. Nike presently has a consensus rating of Hold and a consensus target price of $63.57.
Shares of Nike (NYSE NKE) traded down $1.48 during trading on Friday, hitting $63.29. The stock had a trading volume of 20,409,359 shares, compared to its average volume of 9,997,224. The stock has a market capitalization of $105,673.35, a price-to-earnings ratio of 27.40, a P/E/G ratio of 3.04 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. Nike has a 1 year low of $50.35 and a 1 year high of $65.18.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. Nike had a return on equity of 31.24% and a net margin of 11.13%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. research analysts forecast that Nike will post 2.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, December 1st. This is an increase from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio (DPR) is currently 34.63%.
In related news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,511,120. The disclosure for this sale can be found here. In the last three months, insiders sold 290,094 shares of company stock valued at $17,480,160. Corporate insiders own 3.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in shares of Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after purchasing an additional 16,237,557 shares in the last quarter. Capital World Investors increased its position in shares of Nike by 58.7% during the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after purchasing an additional 8,058,601 shares in the last quarter. Harding Loevner LP increased its position in shares of Nike by 97.1% during the third quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock worth $390,421,000 after purchasing an additional 5,987,728 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in Nike by 7,020.1% during the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares during the last quarter. Finally, Orbis Allan Gray Ltd acquired a new position in Nike during the second quarter worth $226,588,000. 62.56% of the stock is owned by hedge funds and other institutional investors.
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Nike Company Profile
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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