Daiwa Capital Markets set a $91.00 target price on Nike (NYSE:NKE) in a research note issued to investors on Friday morning, TipRanks reports. The firm currently has a hold rating on the footwear maker’s stock.
NKE has been the topic of a number of other reports. Bank of America upgraded Nike to an underperform rating and boosted their price target for the company from $60.00 to $70.00 in a report on Monday, June 24th. Goldman Sachs Group set a $95.00 price target on Nike and gave the company a neutral rating in a report on Wednesday, September 25th. Wells Fargo & Co boosted their price target on Nike from $85.00 to $91.00 and gave the company a market perform rating in a report on Wednesday, September 25th. They noted that the move was a valuation call. Canaccord Genuity restated a buy rating and issued a $96.00 price target on shares of Nike in a report on Wednesday, June 19th. Finally, UBS Group boosted their price target on Nike from $87.00 to $95.00 and gave the company a neutral rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $95.16.
NKE stock traded up $1.61 during midday trading on Friday, hitting $93.92. 7,042,536 shares of the company’s stock were exchanged, compared to its average volume of 6,488,366. The company has a market cap of $146.00 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 2.47 and a beta of 0.79. The stock’s fifty day moving average price is $85.53 and its 200-day moving average price is $85.01. Nike has a one year low of $66.53 and a one year high of $94.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 2.01.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 24th. The footwear maker reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.15. The company had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.43 billion. Nike had a return on equity of 47.92% and a net margin of 10.81%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 earnings per share. On average, analysts expect that Nike will post 2.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, August 30th. Nike’s dividend payout ratio (DPR) is presently 35.34%.
In other news, insider Elliott Hill sold 34,100 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $88.34, for a total transaction of $3,012,394.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth J. Comstock sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total value of $2,036,160.00. Following the sale, the director now owns 38,813 shares of the company’s stock, valued at approximately $3,292,894.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 416,582 shares of company stock worth $37,184,230. Company insiders own 3.80% of the company’s stock.
Several large investors have recently modified their holdings of NKE. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Nike in the first quarter valued at approximately $25,000. Thor Advisors LLC bought a new stake in Nike during the first quarter worth $26,000. Hexavest Inc. bought a new stake in Nike during the second quarter worth $30,000. Litman Gregory Asset Management LLC bought a new stake in Nike during the second quarter worth $31,000. Finally, LFA Lugano Financial Advisors SA lifted its stake in Nike by 43.1% during the second quarter. LFA Lugano Financial Advisors SA now owns 465 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 65.05% 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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