NIKE, Inc. (NYSE:NKE – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the thirty research firms that are presently covering the firm, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $89.58.
Several research firms have weighed in on NKE. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research report on Friday, December 20th. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $93.00 to $80.00 in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Guggenheim decreased their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group boosted their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th.
Get Our Latest Stock Report on NKE
NIKE Stock Down 1.1 %
NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the business earned $1.03 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. Equities analysts forecast that NIKE will post 2.72 earnings per share for the current fiscal year.
NIKE Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.
Insider Transactions at NIKE
In related news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On NIKE
Hedge funds have recently bought and sold shares of the business. Loomis Sayles & Co. L P lifted its holdings in shares of NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares during the period. State Street Corp increased its stake in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of NIKE during the 3rd quarter worth $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in NIKE in the third quarter valued at about $144,927,000. Finally, Renaissance Technologies LLC grew its position in NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after acquiring an additional 1,550,611 shares during the last quarter. 64.25% of the stock is owned by institutional investors.
About NIKE
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.
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