Nike Inc (NYSE:NKE) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They presently have a $54.16 price objective on the footwear maker’s stock. Vetr‘s price objective points to a potential upside of 2.23% from the company’s current price.
Several other brokerages have also recently issued reports on NKE. Goldman Sachs Group Inc reaffirmed a “buy” rating and issued a $62.00 target price on shares of Nike in a 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 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 report on Friday, May 5th. Bank of America Corp reaffirmed a “sell” rating and issued a $46.00 target price on shares of Nike in a report on Wednesday, April 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $51.00 target price on shares of Nike in a report on Tuesday, March 28th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $60.78.
Shares of Nike (NYSE NKE) opened at 52.98 on Monday. Nike has a 12 month low of $49.01 and a 12 month high of $60.33. The firm has a 50-day moving average of $54.01 and a 200-day moving average of $54.01. The company has a market capitalization of $87.46 billion, a P/E ratio of 22.10 and a beta of 0.44.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.15. Nike had a net margin of 11.60% and a return on equity of 31.70%. The company had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same period last year, the company posted $0.55 EPS. Nike’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that Nike will post $2.40 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Monday, June 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, June 1st. Nike’s payout ratio is 31.72%.
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In related news, Director John R. Thompson, Jr. sold 14,000 shares of the company’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $56.45, for a total transaction of $790,300.00. Following the sale, the director now owns 55,660 shares of the company’s stock, valued at $3,142,007. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 100,000 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $55.50, for a total transaction of $5,550,000.00. Following the sale, the chairman now directly owns 1,966,235 shares in the company, valued at approximately $109,126,042.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 379,000 shares of company stock worth $21,213,800. 3.90% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Clarius Group LLC acquired a new stake in Nike during the fourth quarter worth about $111,000. Crestwood Advisors Group LLC acquired a new stake in Nike during the first quarter worth about $117,000. Webster Bank N. A. increased its stake in Nike by 75.5% in the first 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 last quarter. Gierl Augustine Investment Management Inc increased its stake in Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares during the last quarter. Finally, Asset Planning Services Ltd. acquired a new stake in Nike during the first quarter worth about $118,000. 62.23% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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