Nike (NYSE:NKE) Sets New 52-Week High at $102.99

Nike Inc (NYSE:NKE)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $102.99 and last traded at $102.81, with a volume of 54406 shares trading hands. The stock had previously closed at $102.16.

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Nike from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Susquehanna Bancshares boosted their price objective on Nike from $106.00 to $115.00 and gave the company a “positive” rating in a research note on Thursday, December 19th. Stifel Nicolaus reiterated a “buy” rating and set a $110.00 price objective on shares of Nike in a research note on Monday, December 16th. Deutsche Bank set a $120.00 price objective on Nike and gave the company a “buy” rating in a research note on Wednesday, January 1st. Finally, Exane BNP Paribas assumed coverage on Nike in a research note on Friday, October 4th. They set an “underperform” rating and a $82.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $106.19.

The firm has a market capitalization of $157.51 billion, a PE ratio of 41.49, a PEG ratio of 2.55 and a beta of 0.84. The company has a fifty day moving average price of $98.63 and a 200-day moving average price of $90.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.23 and a current ratio of 1.98.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.12. The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.09 billion. Nike had a return on equity of 50.03% and a net margin of 11.21%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. On average, equities analysts predict that Nike Inc will post 3.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 0.95%. This is a boost from Nike’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, November 29th. Nike’s dividend payout ratio is 39.36%.

In other news, Director Peter B. Henry sold 2,416 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $101.14, for a total transaction of $244,354.24. Following the sale, the director now directly owns 4,046 shares of the company’s stock, valued at approximately $409,212.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elliott Hill sold 90,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $102.50, for a total value of $9,225,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 339,916 shares of company stock worth $32,692,874 over the last ninety days. Insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NKE. Garrett Wealth Advisory Group LLC purchased a new stake in Nike during the 3rd quarter valued at $26,000. Marquette Asset Management LLC purchased a new stake in Nike during the 3rd quarter valued at $28,000. LFA Lugano Financial Advisors SA purchased a new stake in Nike during the 4th quarter valued at $33,000. KCS Wealth Advisory purchased a new stake in Nike during the 3rd quarter valued at $38,000. Finally, Fulcrum Capital LLC purchased a new stake in Nike during the 3rd quarter valued at $12,862,000. 65.09% of the stock is currently owned by institutional investors and hedge funds.

About Nike (NYSE:NKE)

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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