JPMorgan Chase & Co. Reaffirms “Hold” Rating for Nike (NKE)
JPMorgan Chase & Co. reiterated their hold rating on shares of Nike (NYSE:NKE) in a research note issued to investors on Friday morning. JPMorgan Chase & Co. currently has a $58.00 target price on the footwear maker’s stock.
Several other equities analysts also recently commented on NKE. B. Riley reiterated a neutral rating on shares of Nike in a research report on Wednesday, November 1st. Jefferies Group set a $59.00 target price on Nike and gave the company a neutral rating in a research report on Friday. Barclays restated a buy rating and set a $71.00 price objective on shares of Nike in a research report on Friday. Pivotal Research set a $62.00 price objective on Nike and gave the stock a hold rating in a research report on Friday. Finally, Piper Jaffray Companies set a $59.00 price objective on Nike and gave the stock a hold rating in a research report on Friday. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $63.52.
Nike (NYSE NKE) opened at $63.29 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81. The company has a market capitalization of $103,260.00, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.04 and a beta of 0.64. Nike has a 1 year low of $50.35 and a 1 year high of $65.18.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.26%. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio (DPR) is currently 34.63%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $65.00, for a total value of $650,000.00. Following the completion of 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. Insiders have sold 290,094 shares of company stock valued at $17,480,160 in the last ninety days. 3.90% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. BB&T Securities LLC boosted its position in shares of Nike by 59.3% during the first quarter. BB&T Securities LLC now owns 77,831 shares of the footwear maker’s stock valued at $4,337,000 after buying an additional 28,988 shares during the last quarter. Polen Capital Management LLC boosted its position in shares of Nike by 9.0% during the first quarter. Polen Capital Management LLC now owns 11,350,849 shares of the footwear maker’s stock valued at $632,583,000 after buying an additional 940,716 shares during the last quarter. ZWJ Investment Counsel Inc. purchased a new position in shares of Nike during the first quarter valued at approximately $586,000. Credit Agricole S A boosted its position in shares of Nike by 1.5% during the first quarter. Credit Agricole S A now owns 1,130,809 shares of the footwear maker’s stock valued at $63,020,000 after buying an additional 16,880 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Nike by 6.4% during the first quarter. Van ECK Associates Corp now owns 23,961 shares of the footwear maker’s stock worth $1,335,000 after acquiring an additional 1,438 shares during the period. 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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