Shares of Nike Inc (NYSE:NKE) have received an average rating of "Buy" from the thirty-eight research firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-six have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $113.19.
A number of brokerages recently issued reports on NKE. Stifel Nicolaus boosted their price objective on Nike from $122.00 to $140.00 in a research note on Tuesday, August 18th. Susquehanna Bancshares boosted their price objective on Nike from $130.00 to $150.00 and gave the company a "positive" rating in a research note on Wednesday, August 19th. Wells Fargo & Company boosted their price objective on Nike from $99.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. DZ Bank restated a "sell" rating on shares of Nike in a research note on Friday, June 26th. Finally, BMO Capital Markets restated a "buy" rating and issued a $100.00 price target on shares of Nike in a research note on Friday, June 26th.
In other Nike news, CAO Hilary K. Krane sold 11,000 shares of the stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $96.33, for a total value of $1,059,630.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 8,500 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $108.00, for a total value of $918,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 143,356 shares of company stock worth $14,962,435 in the last 90 days. 3.80% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in NKE. BlackRock Inc. grew its position in shares of Nike by 5.2% during the 2nd quarter. BlackRock Inc. now owns 95,685,586 shares of the footwear maker's stock worth $9,381,973,000 after buying an additional 4,708,888 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Nike by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 26,767,069 shares of the footwear maker's stock worth $2,624,512,000 after buying an additional 219,450 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Nike by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 22,175,695 shares of the footwear maker's stock worth $1,834,816,000 after buying an additional 73,831 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nike by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 21,107,272 shares of the footwear maker's stock worth $1,743,723,000 after buying an additional 222,608 shares in the last quarter. Finally, Capital World Investors grew its position in shares of Nike by 2.5% during the 1st quarter. Capital World Investors now owns 20,704,258 shares of the footwear maker's stock worth $1,713,079,000 after buying an additional 508,120 shares in the last quarter. Institutional investors and hedge funds own 64.20% of the company's stock.
Shares of NYSE NKE traded down $0.65 during midday trading on Wednesday, hitting $118.62. 456,717 shares of the company's stock traded hands, compared to its average volume of 7,756,601. Nike has a 1 year low of $60.00 and a 1 year high of $120.48. The stock has a market capitalization of $186.06 billion, a price-to-earnings ratio of 75.32, a price-to-earnings-growth ratio of 3.13 and a beta of 0.83. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.59 and a current ratio of 2.48. The firm has a fifty day moving average of $107.26 and a 200 day moving average of $94.68.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.02 by ($0.53). Nike had a net margin of 6.79% and a return on equity of 32.95%. The business had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $7.26 billion. During the same period in the previous year, the company earned $0.62 EPS. Nike's revenue for the quarter was down 38.0% compared to the same quarter last year. On average, equities analysts anticipate that Nike will post 2.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.98 annualized dividend and a yield of 0.83%. Nike's payout ratio is presently 52.97%.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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