JPMorgan Chase & Co. reissued their buy rating on shares of Nike (NYSE:NKE) in a report issued on Friday, Borsen Zeitung reports. They currently have a $118.00 price objective on the footwear maker’s stock.
A number of other analysts have also recently commented on the stock. Pivotal Research restated a buy rating and set a $115.00 target price on shares of Nike in a report on Tuesday, June 23rd. Zacks Investment Research upgraded shares of Nike from a sell rating to a hold rating and set a $108.00 target price on the stock in a report on Wednesday, June 24th. 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. Wells Fargo & Co upped their price target on shares of Nike from $99.00 to $110.00 and gave the stock an overweight rating in a research note on Friday. Finally, Bank of America upgraded shares of Nike from a neutral rating to a buy rating and dropped their price target for the stock from $105.00 to $85.00 in a research note on Friday, March 20th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price 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 released its quarterly earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.53). The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $7.26 billion. Nike had a net margin of 6.79% and a return on equity of 31.93%. The business’s revenue was down 38.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 EPS. On average, analysts expect that Nike will post 2.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.02%. Nike’s dividend payout ratio (DPR) is presently 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, CAO Hilary K. Krane sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $90.00, for a total value of $990,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,000 shares of company stock valued at $23,228,100. 3.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of NKE. Firestone Capital Management bought a new position in Nike in the 4th quarter worth approximately $25,000. Sowa Financial Group Inc. bought a new position in shares of Nike during the 4th quarter valued at approximately $27,000. Kessler Investment Group LLC bought a new position in shares of Nike during the 1st quarter valued at approximately $27,000. Stuart Chaussee & Associates Inc. boosted its position in shares of Nike by 668.9% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 301 shares during the last quarter. Finally, Perennial Advisors LLC bought a new position in shares of Nike during the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 64.54% 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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