Nike, Inc. (NKE) Earns “Neutral” Rating from Piper Jaffray Companies

Piper Jaffray Companies restated their neutral rating on shares of Nike, Inc. (NYSE:NKE) in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage currently has a $50.00 price target on the footwear maker’s stock.

Other analysts also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $62.00 target price on shares of Nike in a research report on Tuesday, April 18th. Deutsche Bank AG reaffirmed a buy rating and issued a $64.00 target price on shares of Nike in a research report on Saturday, April 22nd. Jefferies Group LLC reaffirmed a buy rating and issued a $75.00 target price on shares of Nike in a research report on Friday, May 5th. Berenberg Bank began coverage on Nike in a research report on Tuesday, May 16th. They issued a buy rating and a $70.00 target price on the stock. Finally, Vetr raised Nike from a buy rating to a strong-buy rating and set a $63.24 target price on the stock in a research report on Wednesday, March 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty have given a buy rating to the company’s stock. Nike currently has a consensus rating of Hold and a consensus target price of $60.18.

Shares of Nike (NYSE:NKE) traded up 1.32% on Wednesday, reaching $53.55. The company’s stock had a trading volume of 3,666,684 shares. The stock has a market cap of $88.40 billion, a PE ratio of 22.34 and a beta of 0.47. Nike has a 1-year low of $49.01 and a 1-year high of $60.33. The company’s 50 day moving average is $53.14 and its 200-day moving average is $54.21.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Monday, June 5th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.36%. Nike’s dividend payout ratio (DPR) is presently 30.00%.

In other news, CAO Hilary K. Krane sold 65,000 shares of the company’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $56.00, for a total transaction of $3,640,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 270,795 shares in the company, valued at $15,164,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $57.00, for a total transaction of $2,850,000.00. Following the transaction, the insider now owns 300,108 shares of the company’s stock, valued at $17,106,156. The disclosure for this sale can be found here. Insiders have sold 329,000 shares of company stock valued at $18,430,300 over the last quarter. Company insiders own 3.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Accredited Investors Inc. increased its position in shares of Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after buying an additional 19 shares during the period. Montecito Bank & Trust increased its position in shares of Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock valued at $402,000 after buying an additional 24 shares during the period. Intrust Bank NA increased its position in shares of Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock valued at $283,000 after buying an additional 46 shares during the period. Welch & Forbes LLC increased its position in shares of Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock valued at $557,000 after buying an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Nike by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock valued at $543,000 after buying an additional 50 shares during the period. Institutional investors own 64.00% 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.

Analyst Recommendations for Nike (NYSE:NKE)

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