J P Morgan Chase & Co reiterated their neutral rating on shares of Nike, Inc. (NYSE:NKE) in a research note released on Friday, June 30th. J P Morgan Chase & Co currently has a $58.00 target price on the footwear maker’s stock.
A number of other research analysts have also issued reports on the stock. Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $62.00 price objective on shares of Nike in a report on Tuesday, April 18th. Deutsche Bank AG reiterated a buy rating and issued a $64.00 price objective on shares of Nike in a report on Saturday, April 22nd. Jefferies Group LLC reissued a buy rating and set a $75.00 target price 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 target price for the company. Finally, Vetr raised shares of Nike from a buy rating to a strong-buy rating and set a $63.24 target price for the company in a research report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $61.04.
Shares of Nike (NKE) traded up 0.89% during trading on Friday, reaching $58.67. 5,112,825 shares of the company traded hands. The company has a 50-day moving average of $56.05 and a 200-day moving average of $55.16. The stock has a market capitalization of $96.41 billion, a PE ratio of 23.37 and a beta of 0.60. Nike has a 12 month low of $49.01 and a 12 month high of $60.33.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. The firm 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 quarter in the prior year, the business earned $0.49 earnings per share. Analysts forecast that Nike will post $2.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, June 1st. Nike’s payout ratio is presently 28.69%.
In other Nike news, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the transaction, the insider now owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Campion sold 5,722 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the transaction, the chief financial officer now directly owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. Insiders have sold a total of 380,037 shares of company stock valued at $21,901,923 in the last ninety days. Insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. V Wealth Management LLC acquired a new position in shares of Nike during the second quarter valued at approximately $100,000. Crestwood Advisors Group LLC acquired a new position in shares of Nike during the first quarter valued at approximately $117,000. Webster Bank N. A. raised its position in shares of 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. 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. purchased a new stake in Nike during the first quarter worth $118,000. 64.17% of the stock is 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.
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