Nike, Inc. (NYSE:NKE) had its target price cut by Raymond James Financial, Inc. from $71.00 to $67.00 in a research report sent to investors on Tuesday. They currently have an outperform rating on the footwear maker’s stock.
A number of other research analysts have also issued reports on the stock. Morgan Stanley reiterated a buy rating and issued a $64.00 target price (down from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Telsey Advisory Group lowered their target price on shares of Nike from $63.00 to $61.00 and set an outperform rating on the stock in a research note on Wednesday, August 30th. Vetr upgraded shares of Nike from a buy rating to a strong-buy rating and set a $59.09 target price on the stock in a research note on Wednesday, September 6th. Cowen and Company set a $54.00 target price on shares of Nike and gave the company a hold rating in a research note on Friday, August 4th. Finally, Canaccord Genuity set a $51.00 target price on shares of Nike and gave the company a hold rating in a research note on Friday, May 26th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $60.04.
Nike (NYSE:NKE) opened at 53.33 on Tuesday. The stock has a market capitalization of $87.63 billion, a P/E ratio of 21.25 and a beta of 0.61. Nike has a 52 week low of $49.01 and a 52 week high of $60.53. The company’s 50-day moving average price is $55.57 and its 200 day moving average price is $55.39.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. During the same quarter in the prior year, the business posted $0.49 EPS. Nike’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that Nike will post $2.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio is 28.69%.
In other news, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the sale, the chief financial officer now owns 50,246 shares in the company, valued at approximately $2,847,943.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric D. Sprunk sold 50,000 shares of Nike stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the sale, the insider now owns 300,108 shares of the company’s stock, valued at approximately $17,706,372. The disclosure for this sale can be found here. In the last quarter, insiders have sold 508,360 shares of company stock valued at $29,340,374. 3.90% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of NKE. V Wealth Management LLC acquired a new stake in shares of Nike during the 2nd quarter worth approximately $100,000. Webster Bank N. A. grew its position in shares of Nike by 75.5% during the 1st quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares during the period. Asset Planning Services Ltd. grew its position 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 buying an additional 7 shares during the period. Atlantic Trust LLC acquired a new stake in shares of Nike during the 2nd quarter worth approximately $136,000. Finally, Rational Advisors LLC grew its position in shares of Nike by 14.3% during the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after buying an additional 321 shares during the period. Institutional investors own 62.63% of the company’s stock.
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.
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.