Needham & Company LLC upgraded shares of Nike (NYSE:NKE) from a hold rating to a buy rating in a research note released on Thursday, MarketBeat.com reports. Needham & Company LLC currently has $85.00 price target on the footwear maker’s stock.
A number of other equities research analysts have also issued reports on NKE. Zacks Investment Research lowered Nike from a hold rating to a sell rating in a research report on Tuesday, November 27th. Piper Jaffray Companies set a $93.00 target price on Nike and gave the company a buy rating in a research report on Monday, September 17th. HSBC lowered Nike from a neutral rating to a hold rating in a research report on Wednesday, January 9th. JPMorgan Chase & Co. set a $85.00 target price on Nike and gave the company a buy rating in a research report on Wednesday, January 2nd. Finally, Barclays set a $100.00 target price on Nike and gave the company a buy rating in a research report on Wednesday, January 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $83.14.
NYSE NKE opened at $76.04 on Thursday. The stock has a market cap of $121.63 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.37 and a beta of 0.69. The company has a current ratio of 2.14, a quick ratio of 1.40 and a debt-to-equity ratio of 0.40. Nike has a one year low of $62.09 and a one year high of $86.04.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter last year, the firm posted $0.46 earnings per share. Nike’s revenue was up 9.6% compared to the same quarter last year. Research analysts anticipate that Nike will post 2.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd were given a dividend of $0.22 per share. This is a positive change from Nike’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.16%. Nike’s payout ratio is 36.36%.
In other news, EVP John F. Slusher sold 200,000 shares of Nike stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the completion of the transaction, the executive vice president now directly owns 284,805 shares in the company, valued at approximately $21,089,810.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total value of $11,052,000.00. Following the transaction, the chairman now owns 1,687,863 shares of the company’s stock, valued at $124,361,745.84. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of NKE. Albion Financial Group UT boosted its stake in Nike by 4.0% in the 3rd quarter. Albion Financial Group UT now owns 6,324 shares of the footwear maker’s stock valued at $536,000 after purchasing an additional 246 shares during the period. Arlington Partners LLC boosted its stake in Nike by 2.7% in the 4th quarter. Arlington Partners LLC now owns 13,070 shares of the footwear maker’s stock valued at $969,000 after purchasing an additional 340 shares during the period. North Star Investment Management Corp. boosted its stake in Nike by 6.6% in the 4th quarter. North Star Investment Management Corp. now owns 7,809 shares of the footwear maker’s stock valued at $579,000 after purchasing an additional 485 shares during the period. Chesley Taft & Associates LLC raised its holdings in Nike by 2.1% in the 4th quarter. Chesley Taft & Associates LLC now owns 24,119 shares of the footwear maker’s stock valued at $1,788,000 after acquiring an additional 490 shares in the last quarter. Finally, National Asset Management Inc. raised its holdings in Nike by 4.7% in the 3rd quarter. National Asset Management Inc. now owns 14,586 shares of the footwear maker’s stock valued at $1,237,000 after acquiring an additional 655 shares in the last quarter. Institutional investors own 63.99% of the company’s stock.
Nike Company Profile
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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