Nike Inc (NYSE:NKE) has been given a $55.00 target price by investment analysts at Forward View in a note issued to investors on Sunday. The brokerage currently has a “hold” rating on the footwear maker’s stock. Forward View’s price target would suggest a potential downside of 1.52% from the company’s previous close.
Other analysts also recently issued research reports about the company. Citigroup Inc upped their target price on Nike to $66.00 in a research note on Thursday, March 23rd. DA Davidson restated a “buy” rating and issued a $66.00 target price on shares of Nike in a research note on Friday, December 16th. HSBC Holdings plc upgraded Nike from a “hold” rating to a “buy” rating and upped their target price for the stock from $56.00 to $60.00 in a research note on Monday, December 5th. Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Nike in a research note on Tuesday, December 13th. Finally, Deutsche Bank AG set a $65.00 target price on Nike and gave the stock a “buy” rating in a research note on Sunday, December 18th. Three 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 stock. The company currently has a consensus rating of “Buy” and a consensus target price of $60.66.
Nike (NYSE:NKE) traded down 0.98% during midday trading on Friday, hitting $55.85. The stock had a trading volume of 6,055,624 shares. The stock has a market cap of $92.20 billion, a PE ratio of 23.30 and a beta of 0.44. The company’s 50 day moving average price is $56.19 and its 200-day moving average price is $53.49. Nike has a 52-week low of $49.01 and a 52-week high of $60.33.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Monday, March 6th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, March 2nd. Nike’s dividend payout ratio is presently 31.72%.
In other Nike news, insider Eric D. Sprunk sold 50,000 shares of the firm’s stock in a transaction on Friday, March 24th. The stock was sold at an average price of $55.67, for a total value of $2,783,500.00. Following the sale, the insider now directly owns 300,108 shares in the company, valued at $16,707,012.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 100,000 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were 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 owns 1,966,235 shares in the company, valued at $104,092,480.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 665,000 shares of company stock worth $36,333,500. 3.90% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Baltimore Washington Financial Advisors Inc. purchased a new stake in Nike during the fourth quarter worth approximately $10,508,000. Clarius Group LLC purchased a new stake in Nike during the fourth quarter worth approximately $111,000. Gierl Augustine Investment Management Inc boosted 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 period. Asset Planning Services Ltd. purchased a new stake in Nike during the first quarter worth approximately $118,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Nike during the fourth quarter worth 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.
