NKE has been the subject of a number of other reports. Morgan Stanley started coverage on Nike in a report on Wednesday, August 1st. They set an overweight rating and a $88.00 price target for the company. Jefferies Financial Group reiterated a neutral rating and set a $68.00 price target on shares of Nike in a report on Wednesday, June 13th. Credit Suisse Group reiterated a buy rating and set a $78.00 price target on shares of Nike in a report on Thursday, June 14th. B. Riley increased their price target on Nike from $68.00 to $76.00 and gave the stock a neutral rating in a report on Friday, June 29th. Finally, Telsey Advisory Group increased their price target on Nike from $82.00 to $87.00 and gave the stock an outperform rating in a report on Wednesday, July 4th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $79.60.
NYSE NKE opened at $80.30 on Tuesday. The firm has a market cap of $128.68 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.51 and a quick ratio of 1.63. Nike has a twelve month low of $50.35 and a twelve month high of $83.68.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 28th. The footwear maker reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $9.79 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Nike had a return on equity of 36.57% and a net margin of 5.31%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. equities analysts expect that Nike will post 2.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, August 31st. Nike’s dividend payout ratio is currently 33.06%.
Nike announced that its board has initiated a share repurchase plan on Thursday, June 28th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the footwear maker to buy up to 12.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Nike news, insider Elliott Hill sold 5,741 shares of the stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $78.17, for a total value of $448,773.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $76.07, for a total value of $760,700.00. Following the completion of the sale, the executive vice president now directly owns 86,774 shares in the company, valued at approximately $6,600,898.18. The disclosure for this sale can be found here. Insiders sold a total of 315,778 shares of company stock worth $24,911,826 in the last ninety days. 3.90% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. acquired a new stake in Nike in the 2nd quarter valued at about $104,000. BDO Wealth Advisors LLC raised its position in shares of Nike by 1,044.3% during the 2nd quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock worth $111,000 after acquiring an additional 1,274 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of Nike during the 2nd quarter worth about $119,000. Bruderman Asset Management LLC acquired a new stake in shares of Nike during the 1st quarter worth about $129,000. Finally, Princeton Capital Management LLC acquired a new stake in shares of Nike during the 1st quarter worth about $130,000. 64.02% of the stock is currently owned by institutional investors.
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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