Susquehanna Bancshares Inc restated their positive rating on shares of Nike, Inc. (NYSE:NKE) in a research report released on Friday, June 30th. The brokerage currently has a $64.00 target price on the footwear maker’s stock, up from their prior target price of $61.00.
A number of other research firms have also recently issued reports on NKE. Goldman Sachs Group, Inc. (The) reiterated a buy rating and set a $62.00 price objective on shares of Nike in a research report on Tuesday, April 18th. Deutsche Bank AG reiterated a buy rating and set a $64.00 price objective on shares of Nike in a research report on Saturday, April 22nd. Jefferies Group LLC reiterated a buy rating and set a $75.00 price objective on shares of Nike in a research report on Friday, May 5th. Berenberg Bank assumed coverage on shares of Nike in a research report on Tuesday, May 16th. They set a buy rating and a $70.00 price objective for the company. Finally, Stifel Nicolaus reiterated a buy rating and set a $66.00 price objective on shares of Nike in a research report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the company. Nike has an average rating of Buy and a consensus price target of $61.04.
Shares of Nike (NYSE:NKE) traded up 0.89% during mid-day trading on Friday, reaching $58.67. 5,112,825 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $56.05 and a 200-day moving average price of $55.16. Nike has a 12 month low of $49.01 and a 12 month high of $60.33. The stock has a market cap of $96.41 billion, a PE ratio of 23.37 and a beta of 0.60.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. On average, analysts predict that Nike will post $2.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Monday, June 5th were issued a $0.18 dividend. The ex-dividend date was Thursday, June 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.23%. Nike’s dividend payout ratio is currently 28.69%.
In other news, CFO Andrew Campion sold 96,243 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the sale, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the transaction, the insider now owns 300,108 shares of the company’s stock, valued at approximately $17,706,372. The disclosure for this sale can be found here. In the last quarter, insiders sold 380,037 shares of company stock valued at $21,901,923. 3.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Baltimore Washington Financial Advisors Inc. bought a new position in Nike during the fourth quarter valued at $10,508,000. V Wealth Management LLC bought a new position in Nike during the second quarter valued at $100,000. Webster Bank N. A. raised its position in Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in Nike during the first quarter valued at $117,000. Finally, Gierl Augustine Investment Management Inc raised its position 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 valued at $118,000 after buying an additional 107 shares during the last quarter. Institutional investors own 64.17% 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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