Nike’s (NKE) “Hold” Rating Reiterated at Piper Jaffray Companies

Nike Inc (NYSE:NKE)‘s stock had its “hold” rating reaffirmed by investment analysts at Piper Jaffray Companies in a note issued to investors on Thursday. They currently have a $51.00 price objective on the footwear maker’s stock. Piper Jaffray Companies’ target price points to a potential downside of 9.57% from the stock’s previous close.

NKE has been the subject of a number of other reports. Jefferies Group LLC set a $75.00 price target on shares of Nike and gave the stock a “buy” rating in a report on Tuesday, December 27th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Nike in a report on Thursday, December 15th. Forward View initiated coverage on shares of Nike in a report on Friday, January 27th. They issued a “hold” rating and a $55.00 price target for the company. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a report on Tuesday, December 13th. Finally, Goldman Sachs Group Inc lifted their price objective on shares of Nike from $61.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, March 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $60.66.

Analyst Recommendations for Nike (NYSE:NKE)

Nike (NYSE:NKE) traded down 0.83% during mid-day trading on Thursday, reaching $55.93. The company had a trading volume of 4,424,867 shares. The company’s 50 day moving average is $56.25 and its 200 day moving average is $53.47. Nike has a 52-week low of $49.01 and a 52-week high of $60.33. The stock has a market capitalization of $92.33 billion, a price-to-earnings ratio of 23.33 and a beta of 0.44.

Nike (NYSE:NKE) last announced its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping 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 business earned $8.43 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter last year, the firm earned $0.55 earnings per share. Nike’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts predict that Nike will post $2.40 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 6th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. Nike’s dividend payout ratio is currently 31.72%.

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In related news, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $57.00, for a total value of $2,850,000.00. Following the completion of the transaction, the insider now directly owns 300,108 shares in the company, valued at approximately $17,106,156. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 100,000 shares of the stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $52.94, for a total transaction of $5,294,000.00. Following the completion of the transaction, the chairman now owns 1,966,235 shares of the company’s stock, valued at $104,092,480.90. The disclosure for this sale can be found here. Insiders have sold a total of 665,000 shares of company stock valued at $36,333,500 over the last quarter. 3.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Nike during the fourth quarter valued at approximately $10,508,000. Clarius Group LLC purchased a new stake in shares of Nike during the fourth quarter valued at approximately $111,000. Gierl Augustine Investment Management Inc increased its stake in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock valued at $118,000 after buying an additional 107 shares during the period. Asset Planning Services Ltd. purchased a new stake in shares of Nike during the first quarter valued at approximately $118,000. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of Nike during the fourth quarter valued at approximately $120,000. Institutional investors own 62.23% 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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