Nike (NKE) Receives Buy Rating from JPMorgan Chase & Co.
JPMorgan Chase & Co. restated their buy rating on shares of Nike (NYSE:NKE) in a research report report published on Friday, Borsen Zeitung reports. They currently have a $90.00 price target on the footwear maker’s stock.
Other equities analysts have also recently issued reports about the company. Piper Jaffray Companies set a $93.00 price target on Nike and gave the stock a buy rating in a report on Friday, March 22nd. Macquarie set a $96.00 price target on Nike and gave the stock a buy rating in a report on Friday, March 22nd. Credit Suisse Group set a $90.00 price target on Nike and gave the stock a buy rating in a report on Wednesday, January 2nd. Citigroup began coverage on Nike in a report on Wednesday, April 10th. They issued a buy rating and a $100.00 price target for the company. Finally, Nomura boosted their price target on Nike from $85.00 to $91.00 and gave the stock a buy rating in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $87.10.
NKE opened at $86.83 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The firm has a market cap of $135.72 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 2.56 and a beta of 0.67. Nike has a one year low of $64.99 and a one year high of $88.59.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.88 annualized dividend and a yield of 1.01%. Nike’s payout ratio is currently 36.36%.
In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $78.00, for a total transaction of $11,700,000.00. Following the completion of the sale, the chairman now directly owns 1,687,863 shares in the company, valued at $131,653,314. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total value of $1,455,465.00. The disclosure for this sale can be found here. Insiders sold 576,500 shares of company stock valued at $46,807,665 over the last quarter. Insiders own 3.90% of the company’s stock.
Large investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans increased its stake in Nike by 42.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,133,675 shares of the footwear maker’s stock worth $158,219,000 after acquiring an additional 635,410 shares during the last quarter. Hollencrest Capital Management acquired a new stake in Nike during the first quarter worth about $202,000. Tiemann Investment Advisors LLC increased its stake in Nike by 2.4% during the fourth quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock worth $402,000 after acquiring an additional 125 shares during the last quarter. Brinker Capital Inc. increased its stake in Nike by 4.1% during the fourth quarter. Brinker Capital Inc. now owns 85,941 shares of the footwear maker’s stock worth $6,375,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Nike by 14.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 47,918 shares of the footwear maker’s stock worth $3,552,000 after acquiring an additional 6,157 shares during the last quarter. Institutional investors own 65.62% of the company’s stock.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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