A number of other brokerages have also weighed in on NKE. Bank of America reissued a sell rating and issued a $50.00 price target on shares of Nike in a report on Friday, September 21st. Stifel Nicolaus raised their price target on shares of Nike from $90.00 to $96.00 and gave the company a buy rating in a report on Monday, September 24th. Goldman Sachs Group set a $81.00 price target on shares of Nike and gave the company a buy rating in a report on Thursday, September 20th. Pivotal Research set a $85.00 price target on shares of Nike and gave the company a hold rating in a report on Friday, September 21st. Finally, Barclays lifted their target price on shares of Nike to $100.00 and gave the stock an overweight rating in a report on Friday, September 21st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have given a buy rating to the company. Nike currently has a consensus rating of Buy and an average target price of $85.74.
Shares of NYSE:NKE traded down $0.77 during trading on Tuesday, reaching $71.60. The stock had a trading volume of 41,487 shares, compared to its average volume of 7,159,356. Nike has a 52 week low of $58.54 and a 52 week high of $86.04. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $114.93 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 2.26 and a beta of 0.77.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 30th. This is a boost from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.23%. Nike’s payout ratio is 33.06%.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total value of $1,360,800.00. Following the sale, the director now directly owns 26,963 shares of the company’s stock, valued at approximately $2,293,203.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 17,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total transaction of $1,413,550.00. Following the completion of the sale, the executive vice president now directly owns 104,737 shares in the company, valued at $8,708,881.55. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $4,219,350 over the last three months. Insiders own 3.90% of the company’s stock.
Several hedge funds have recently modified their holdings of NKE. Cornerstone Advisors Inc. grew its stake in Nike by 17.5% in the 2nd quarter. Cornerstone Advisors Inc. now owns 5,623 shares of the footwear maker’s stock valued at $448,000 after buying an additional 837 shares during the last quarter. GWM Advisors LLC acquired a new position in Nike in the 2nd quarter valued at about $521,000. Cornerstone Wealth Management LLC acquired a new position in Nike in the 2nd quarter valued at about $1,970,000. DSAM Partners London Ltd acquired a new position in Nike in the 2nd quarter valued at about $5,060,000. Finally, Unigestion Holding SA acquired a new position in Nike in the 2nd quarter valued at about $54,521,000. 64.72% of the stock is currently owned by institutional investors.
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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