Pivotal Research began coverage on shares of Nike, Inc. (NYSE:NKE) in a research report report published on Thursday, October 5th, MarketBeat Ratings reports. The firm issued a hold rating and a $56.00 price target on the footwear maker’s stock.
A number of other research analysts have also issued reports on NKE. Nomura reissued a buy rating and set a $60.00 target price on shares of Nike in a research note on Friday, June 30th. J P Morgan Chase & Co lowered shares of Nike from an overweight rating to a neutral rating and reduced their target price for the company from $61.00 to $58.00 in a research note on Friday, June 16th. Vetr raised shares of Nike from a buy rating to a strong-buy rating and set a $57.97 target price for the company in a research note on Wednesday, October 4th. Telsey Advisory Group reduced their target price on shares of Nike from $66.00 to $62.00 and set an outperform rating for the company in a research note on Thursday, June 22nd. Finally, Cowen and Company boosted their target price on shares of Nike from $53.00 to $54.00 and gave the company a market perform rating in a research note on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Nike has a consensus rating of Hold and a consensus price target of $59.14.
Nike (NYSE NKE) traded up 0.711% during trading on Thursday, hitting $51.735. The company’s stock had a trading volume of 2,261,572 shares. The firm has a market cap of $84.80 billion, a PE ratio of 22.024 and a beta of 0.61. Nike has a one year low of $49.01 and a one year high of $60.53. The company has a 50-day moving average of $52.64 and a 200 day moving average of $54.80.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the business posted $0.73 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts forecast that Nike will post $2.32 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.40%. Nike’s dividend payout ratio (DPR) is currently 30.64%.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the sale, the director now directly owns 25,660 shares in the company, valued at $1,371,527. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Campion sold 5,722 shares of Nike stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the completion of the sale, the chief financial officer now owns 34,976 shares in the company, valued at $2,077,574.40. The disclosure for this sale can be found here. Insiders have sold a total of 134,045 shares of company stock worth $7,778,338 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NKE. Waldron LP raised its holdings in shares of Nike by 90.8% in the first quarter. Waldron LP now owns 8,922 shares of the footwear maker’s stock valued at $496,000 after purchasing an additional 4,246 shares during the last quarter. Rockefeller Financial Services Inc. raised its holdings in shares of Nike by 18.9% in the first quarter. Rockefeller Financial Services Inc. now owns 1,556,434 shares of the footwear maker’s stock valued at $86,740,000 after purchasing an additional 246,898 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Nike by 20.7% in the first quarter. Canada Pension Plan Investment Board now owns 5,224,981 shares of the footwear maker’s stock valued at $291,188,000 after purchasing an additional 896,319 shares during the last quarter. Markel Corp raised its holdings in shares of Nike by 7.4% in the first quarter. Markel Corp now owns 348,000 shares of the footwear maker’s stock valued at $19,394,000 after purchasing an additional 24,000 shares during the last quarter. Finally, Weatherly Asset Management L. P. raised its holdings in shares of Nike by 14.3% in the first quarter. Weatherly Asset Management L. P. now owns 41,020 shares of the footwear maker’s stock valued at $2,286,000 after purchasing an additional 5,135 shares during the last quarter. Institutional investors own 62.55% of the company’s stock.
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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