Nike (NKE) Earns Hold Rating from Credit Suisse Group
Credit Suisse Group reissued their hold rating on shares of Nike (NYSE:NKE) in a research report sent to investors on Friday morning. They currently have a $60.00 price objective on the footwear maker’s stock.
Several other equities analysts have also recently issued reports on NKE. B. Riley restated a neutral rating on shares of Nike in a research report on Wednesday, November 1st. Jefferies Group set a $59.00 price target on Nike and gave the company a neutral rating in a research report on Friday. Barclays restated a buy rating and issued a $71.00 price target on shares of Nike in a research report on Friday. Pivotal Research set a $62.00 price target on Nike and gave the company a hold rating in a research report on Friday. Finally, Piper Jaffray Companies set a $59.00 price target on Nike and gave the company a hold rating in a research report on Friday. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $63.44.
Nike (NYSE NKE) traded down $1.48 during trading on Friday, hitting $63.29. The stock had a trading volume of 20,414,100 shares, compared to its average volume of 9,686,334. Nike has a fifty-two week low of $50.35 and a fifty-two week high of $65.18. 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 stock has a market cap of $103,260.00, a P/E ratio of 27.40, a P/E/G ratio of 3.04 and a beta of 0.64.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a return on equity of 31.24% and a net margin of 11.13%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. sell-side analysts forecast that Nike will post 2.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio is currently 34.63%.
In related news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $65.00, for a total value of $8,775,000.00. Following the sale, the chairman now owns 1,502,830 shares of the company’s stock, valued at approximately $97,683,950. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. In the last 90 days, insiders sold 290,094 shares of company stock worth $17,480,160. Insiders own 3.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NKE. Willingdon Wealth Management purchased a new position in shares of Nike during the 3rd quarter worth $114,000. Asset Planning Services Ltd. lifted its stake in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the period. Atlantic Trust LLC purchased a new position in shares of Nike during the 2nd quarter worth $136,000. Howe & Rusling Inc. lifted its stake in shares of Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares during the period. Finally, Kistler Tiffany Companies LLC lifted its stake in shares of Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the period. 62.56% of the stock is currently 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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