Bank of America Analysts Give Nike (NKE) a $42.00 Price Target
NKE has been the topic of several other research reports. Goldman Sachs Group set a $59.00 target price on Nike and gave the company a neutral rating in a research report on Thursday, December 14th. HSBC downgraded Nike from a buy rating to a hold rating and raised their target price for the company from $58.95 to $62.00 in a research report on Tuesday, November 28th. Zacks Investment Research upgraded Nike from a sell rating to a hold rating in a research report on Tuesday, October 24th. B. Riley raised their target price on Nike from $53.00 to $61.00 and gave the company a neutral rating in a research report on Friday. Finally, Citigroup restated a buy rating and issued a $65.00 target price (down previously from $67.00) on shares of Nike in a research report on Wednesday, September 27th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $63.44.
Nike (NKE) opened at $63.29 on Friday. The stock has a market capitalization of $103,260.00, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 3.04 and a beta of 0.64. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29. 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. Shareholders of record on Monday, December 4th will be paid a dividend of $0.20 per share. This is a boost from Nike’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.26%. Nike’s dividend payout ratio (DPR) is 34.63%.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at $1,511,120. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction 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 sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 290,094 shares of company stock valued at $17,480,160. 3.90% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of NKE. BB&T Securities LLC grew its stake in shares of Nike by 59.3% in 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 in the last quarter. Polen Capital Management LLC grew its stake in shares of Nike by 9.0% in 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 in the last quarter. ZWJ Investment Counsel Inc. acquired a new stake in shares of Nike in the first quarter valued at $586,000. Credit Agricole S A grew its stake in shares of Nike by 1.5% in 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 in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Nike by 6.4% in the first quarter. Van ECK Associates Corp now owns 23,961 shares of the footwear maker’s stock valued at $1,335,000 after buying an additional 1,438 shares in the last quarter. 62.56% of the stock is owned by institutional investors.
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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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