Nike (NYSE:NKE) Rating Reiterated by Stifel Nicolaus
Stifel Nicolaus reiterated their buy rating on shares of Nike (NYSE:NKE) in a research report sent to investors on Friday morning, TipRanks reports. Stifel Nicolaus currently has a $110.00 target price on the footwear maker’s stock.
Several other research firms also recently commented on NKE. Jefferies Financial Group upped their price objective on Nike from $83.00 to $95.00 and gave the company a hold rating in a research note on Friday. Wedbush reaffirmed an outperform rating and set a $107.00 price target on shares of Nike in a research report on Friday. Sanford C. Bernstein increased their price target on Nike from $101.00 to $115.00 and gave the stock an outperform rating in a research note on Friday. Bank of America upgraded Nike from a neutral rating to a buy rating and lowered their price objective for the company from $105.00 to $85.00 in a research note on Friday, March 20th. Finally, Oppenheimer initiated coverage on shares of Nike in a research report on Friday, May 15th. They set a buy rating and a $115.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. Nike currently has a consensus rating of Buy and an average target price of $108.96.
NKE opened at $95.87 on Friday. Nike has a fifty-two week low of $60.00 and a fifty-two week high of $105.62. The firm has a 50-day moving average of $96.23 and a 200 day moving average of $93.53. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.20 and a current ratio of 1.90. The firm has a market cap of $148.25 billion, a P/E ratio of 60.68, a PEG ratio of 3.05 and a beta of 0.78.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 annualized dividend and a yield of 1.02%. Nike’s payout ratio is presently 52.97%.
In other Nike news, COO Andrew Campion sold 60,000 shares of Nike stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $98.00, for a total transaction of $5,880,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 165,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $99.14, for a total value of $16,358,100.00. Following the completion of the transaction, the chairman now owns 2,012,954 shares of the company’s stock, valued at $199,564,259.56. The disclosure for this sale can be found here. In the last three months, insiders sold 236,000 shares of company stock valued at $23,228,100. Corporate insiders own 3.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NKE. BlackRock Inc. boosted its stake in Nike by 1.7% in the first quarter. BlackRock Inc. now owns 90,976,698 shares of the footwear maker’s stock worth $7,527,412,000 after buying an additional 1,489,033 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Nike by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 26,547,619 shares of the footwear maker’s stock worth $2,196,549,000 after acquiring an additional 584,343 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Nike by 0.3% in the 1st quarter. Wellington Management Group LLP now owns 22,175,695 shares of the footwear maker’s stock worth $1,834,816,000 after acquiring an additional 73,831 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Nike by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 21,107,272 shares of the footwear maker’s stock valued at $1,743,723,000 after purchasing an additional 222,608 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Nike by 2.5% during the 1st quarter. Capital World Investors now owns 20,704,258 shares of the footwear maker’s stock valued at $1,713,079,000 after purchasing an additional 508,120 shares during the last quarter. 64.54% of the stock is currently owned by institutional investors.
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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