DZ Bank reissued their sell rating on shares of Nike (NYSE:NKE) in a report issued on Friday, Borsen Zeitung reports.
A number of other analysts have also recently commented on NKE. Sanford C. Bernstein boosted their target price on shares of Nike from $101.00 to $115.00 and gave the company an outperform rating in a report on Friday. Robert W. Baird boosted their target price on shares of Nike from $85.00 to $95.00 and gave the company a neutral rating in a report on Thursday, June 18th. Goldman Sachs Group restated a buy rating and set a $110.00 target price (up previously from $96.00) on shares of Nike in a report on Friday. Wedbush restated an outperform rating and set a $107.00 target price on shares of Nike in a report on Friday. Finally, Barclays boosted their target price on shares of Nike from $92.00 to $118.00 and gave the company an overweight rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $108.96.
NYSE:NKE opened at $95.87 on Friday. The stock has a market cap of $148.25 billion, a P/E ratio of 60.68, a price-to-earnings-growth ratio of 3.05 and a beta of 0.78. The firm’s fifty day simple moving average is $96.23 and its 200 day simple moving average is $93.53. Nike has a twelve month low of $60.00 and a twelve month high of $105.62. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.69.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.53). Nike had a net margin of 6.79% and a return on equity of 31.93%. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter last year, the firm posted $0.62 EPS. The business’s quarterly revenue was down 38.0% on a year-over-year basis. On average, analysts expect that Nike will post 2.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, May 29th. Nike’s payout ratio is currently 52.97%.
In related news, Chairman Mark G. Parker sold 165,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $99.14, for a total transaction of $16,358,100.00. Following the completion of the transaction, the chairman now directly owns 2,012,954 shares in the company, valued at approximately $199,564,259.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, April 3rd. The shares were bought at an average price of $84.63 per share, with a total value of $84,630.00. Following the completion of the purchase, the director now owns 12,851 shares in the company, valued at approximately $1,087,580.13. The disclosure for this purchase can be found here. Insiders have sold a total of 236,000 shares of company stock valued at $23,228,100 in the last ninety days. Insiders own 3.80% of the company’s stock.
Several large investors have recently made changes to their positions in NKE. Victory Capital Management Inc. grew its stake in shares of Nike by 18.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,254,956 shares of the footwear maker’s stock valued at $127,140,000 after acquiring an additional 195,237 shares during the period. Rafferty Asset Management LLC grew its stake in shares of Nike by 15.6% during the 4th quarter. Rafferty Asset Management LLC now owns 3,773 shares of the footwear maker’s stock valued at $382,000 after acquiring an additional 509 shares during the period. GW&K Investment Management LLC grew its stake in shares of Nike by 53.9% during the 4th quarter. GW&K Investment Management LLC now owns 10,702 shares of the footwear maker’s stock valued at $1,084,000 after acquiring an additional 3,747 shares during the period. National Asset Management Inc. grew its stake in shares of Nike by 6.6% during the 4th quarter. National Asset Management Inc. now owns 13,962 shares of the footwear maker’s stock valued at $1,415,000 after acquiring an additional 864 shares during the period. Finally, Firestone Capital Management bought a new position in shares of Nike during the 4th quarter valued at approximately $25,000. Institutional investors own 64.54% of the company’s stock.
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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