Credit Suisse Group began coverage on shares of Nike (NYSE:NKE) in a research note released on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $78.00 price target on the footwear maker’s stock.
A number of other equities research analysts have also issued reports on the company. Argus raised Nike from a hold rating to a buy rating and increased their price target for the company from $50.35 to $64.46 in a research report on Thursday, December 14th. Buckingham Research set a $71.00 price target on Nike and gave the company a buy rating in a research report on Monday, December 25th. DA Davidson increased their price target on Nike from $68.00 to $78.00 and gave the company a buy rating in a research report on Tuesday, December 26th. Robert W. Baird reaffirmed a buy rating and issued a $65.00 price target on shares of Nike in a research report on Friday, November 17th. Finally, Zacks Investment Research lowered Nike from a buy rating to a hold rating in a research report on Wednesday, December 20th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $66.10.
Shares of Nike (NYSE:NKE) opened at $66.20 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. The stock has a market capitalization of $107,654.55, a PE ratio of 28.65, a price-to-earnings-growth ratio of 2.99 and a beta of 0.68. Nike has a 12-month low of $50.35 and a 12-month high of $70.25.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. Nike’s dividend payout ratio is presently 34.63%.
In related news, insider Eric D. Sprunk sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the transaction, the insider now owns 227,199 shares in the company, valued at approximately $15,372,284.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total value of $9,450,000.00. Following the transaction, the chairman now owns 1,637,736 shares in the company, valued at approximately $114,641,520. The disclosure for this sale can be found here. Insiders have sold a total of 1,057,896 shares of company stock worth $68,424,217 in the last 90 days. 3.90% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in NKE. Seven Eight Capital LP purchased a new position in shares of Nike in the 2nd quarter valued at approximately $7,174,000. Associated Banc Corp grew its stake in shares of Nike by 3.7% in the 2nd quarter. Associated Banc Corp now owns 4,252 shares of the footwear maker’s stock valued at $251,000 after purchasing an additional 150 shares during the last quarter. Opes Advisors Inc purchased a new position in shares of Nike in the 2nd quarter valued at approximately $204,000. Norinchukin Bank The grew its stake in shares of Nike by 1.9% in the 2nd quarter. Norinchukin Bank The now owns 941,052 shares of the footwear maker’s stock valued at $55,522,000 after purchasing an additional 17,843 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Nike in the 2nd quarter valued at approximately $184,000. Hedge funds and other institutional investors own 65.76% of the company’s stock.
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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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