Nike Inc (NYSE:NKE) has been given a $55.00 target price by stock analysts at Forward View in a research report issued to clients and investors on Sunday. The firm currently has a “hold” rating on the footwear maker’s stock. Forward View’s price target indicates a potential downside of 1.52% from the company’s previous close.
A number of other research analysts also recently commented on NKE. Stifel Nicolaus set a $68.00 price objective on Nike and gave the stock a “buy” rating in a research note on Sunday, December 25th. Piper Jaffray Companies set a $52.00 price target on Nike and gave the stock a “hold” rating in a research note on Sunday, December 18th. B. Riley reissued a “neutral” rating and issued a $56.00 price target on shares of Nike in a research note on Wednesday, March 22nd. Deutsche Bank AG set a $65.00 price target on Nike and gave the stock a “buy” rating in a research note on Sunday, December 18th. Finally, Citigroup Inc reissued a “buy” rating and issued a $64.00 price target on shares of Nike in a research note on Wednesday, December 21st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $60.66.
Shares of Nike (NYSE:NKE) traded down 0.98% during mid-day trading on Friday, reaching $55.85. 6,055,624 shares of the company traded hands. Nike has a 52-week low of $49.01 and a 52-week high of $60.33. The firm’s 50 day moving average price is $56.19 and its 200-day moving average price is $53.49. The company has a market capitalization of $92.20 billion, a P/E ratio of 23.30 and a beta of 0.44.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Monday, March 6th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, March 2nd. Nike’s dividend payout ratio is 31.72%.
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In other Nike news, EVP John F. Slusher sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $56.00, for a total value of $5,600,000.00. Following the sale, the executive vice president now owns 209,165 shares of the company’s stock, valued at approximately $11,713,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hilary K. Krane sold 65,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $56.00, for a total value of $3,640,000.00. Following the completion of the sale, the chief accounting officer now directly owns 270,795 shares in the company, valued at approximately $15,164,520. The disclosure for this sale can be found here. In the last three months, insiders have sold 665,000 shares of company stock worth $36,333,500. 3.90% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Baltimore Washington Financial Advisors Inc. acquired a new stake in Nike during the fourth quarter worth about $10,508,000. Clarius Group LLC acquired a new stake in Nike during the fourth quarter worth about $111,000. Gierl Augustine Investment Management Inc raised 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. acquired a new stake in Nike during the first quarter worth about $118,000. Finally, SRS Capital Advisors Inc. acquired a new stake in Nike during the fourth quarter worth about $120,000. 62.23% of the stock is currently owned by hedge funds and other 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.
