A number of other equities analysts also recently issued reports on NKE. Canaccord Genuity set a $60.00 price target on shares of Nike and gave the stock a hold rating in a research note on Sunday, January 7th. Barclays set a $75.00 target price on shares of Nike and gave the company a buy rating in a research note on Tuesday, January 9th. Macquarie set a $72.00 target price on shares of Nike and gave the company a buy rating in a research note on Thursday, January 11th. Cowen set a $64.00 price target on shares of Nike and gave the company a hold rating in a report on Thursday, January 11th. Finally, Wedbush upgraded shares of Nike from a neutral rating to an outperform rating and set a $74.00 price target on the stock in a report on Friday, January 19th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $68.96.
Nike stock opened at $68.84 on Monday. Nike has a fifty-two week low of $68.11 and a fifty-two week high of $68.86. The firm has a market capitalization of $111.33 billion, a PE ratio of 27.43, a PEG ratio of 3.28 and a beta of 0.64. The company has a current ratio of 2.66, a quick ratio of 1.73 and a debt-to-equity ratio of 0.35.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.15. The business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.85 billion. Nike had a net margin of 5.11% and a return on equity of 33.38%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. sell-side analysts anticipate that Nike will post 2.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Monday, June 4th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, June 1st. Nike’s payout ratio is 31.87%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $114,641,520. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in Nike by 3.3% during the first quarter. BlackRock Inc. now owns 81,870,764 shares of the footwear maker’s stock worth $5,439,495,000 after purchasing an additional 2,649,041 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Nike by 1.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 17,523,005 shares of the footwear maker’s stock worth $1,164,228,000 after purchasing an additional 248,381 shares during the last quarter. Edgewood Management LLC increased its position in Nike by 3.8% during the first quarter. Edgewood Management LLC now owns 15,111,596 shares of the footwear maker’s stock worth $1,004,014,000 after purchasing an additional 546,687 shares during the last quarter. Geode Capital Management LLC increased its position in Nike by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 14,472,375 shares of the footwear maker’s stock worth $903,432,000 after purchasing an additional 336,633 shares during the last quarter. Finally, Polen Capital Management LLC increased its position in Nike by 2.2% during the first quarter. Polen Capital Management LLC now owns 13,024,429 shares of the footwear maker’s stock worth $865,343,000 after purchasing an additional 282,440 shares during the last quarter. Institutional investors and hedge funds own 65.76% 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. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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