Nike Inc (NYSE:NKE) received a $55.00 target price from investment analysts at Forward View in a research report issued on Sunday. The firm presently has a “hold” rating on the footwear maker’s stock. Forward View’s price target would suggest a potential downside of 2.41% from the company’s current price.
NKE has been the subject of a number of other research reports. Cowen and Company cut Nike from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $59.00 to $54.00 in a research report on Tuesday, December 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Nike in a research report on Tuesday, January 3rd. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $51.00 price target on shares of Nike in a research report on Thursday, March 16th. Bank of America Corp reaffirmed an “underperform” rating on shares of Nike in a research report on Wednesday, December 21st. Finally, Credit Suisse Group AG set a $67.00 price target on Nike and gave the stock a “buy” rating in a research report on Tuesday, March 14th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $61.46.
Nike (NYSE:NKE) traded down 0.75% during mid-day trading on Friday, hitting $55.94. The company had a trading volume of 5,478,016 shares. The firm has a market capitalization of $92.47 billion, a P/E ratio of 23.34 and a beta of 0.44. Nike has a 12 month low of $49.01 and a 12 month high of $62.64. The company has a 50-day moving average price of $56.45 and a 200 day moving average price of $53.41.
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 the Thomson Reuters’ consensus estimate of $0.53 by $0.15. Nike had a return on equity of 31.70% and a net margin of 11.60%. The firm had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts forecast that Nike will post $2.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 6th will be given a $0.18 dividend. The ex-dividend date is Thursday, March 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.28%. Nike’s dividend payout ratio (DPR) is presently 31.72%.
In other news, Chairman Mark G. Parker sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $52.94, for a total value of $5,294,000.00. Following the completion of the sale, the chairman now directly owns 1,966,235 shares in the company, valued at $104,092,480.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F. Slusher sold 136,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $52.13, for a total value of $7,089,680.00. Following the completion of the sale, the executive vice president now owns 225,165 shares of the company’s stock, valued at $11,737,851.45. The disclosure for this sale can be found here. Insiders sold 636,000 shares of company stock valued at $33,477,680 over the last 90 days. Company insiders own 3.90% of the company’s stock.
Several large investors have recently bought and sold shares of NKE. Norges Bank bought a new stake in Nike during the fourth quarter worth about $463,411,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Nike during the fourth quarter worth about $165,446,000. Carmignac Gestion raised its stake in Nike by 148.9% in the third quarter. Carmignac Gestion now owns 5,259,454 shares of the footwear maker’s stock worth $276,910,000 after buying an additional 3,146,536 shares during the period. Russell Investments Group Ltd. bought a new stake in Nike during the fourth quarter worth about $157,179,000. Finally, State Street Corp raised its stake in Nike by 4.6% in the fourth quarter. State Street Corp now owns 58,719,250 shares of the footwear maker’s stock worth $2,984,719,000 after buying an additional 2,563,166 shares during the period. Institutional investors and hedge funds own 62.23% of the company’s stock.
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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