Nike (NKE) Given Buy Rating at Macquarie

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Macquarie reiterated their buy rating on shares of Nike (NYSE:NKE) in a report published on Monday. They currently have a $98.00 target price on the footwear maker’s stock.

Several other research analysts have also weighed in on the company. CIBC raised Nike from a market perform rating to an outperform rating in a research report on Thursday, October 18th. Oppenheimer raised Nike from a market perform rating to an outperform rating and set a $90.00 price target on the stock in a research report on Thursday, October 18th. UBS Group reissued a neutral rating on shares of Nike in a research report on Wednesday, October 17th. Cowen set a $81.00 price target on Nike and gave the company a hold rating in a research report on Wednesday, October 10th. Finally, Morningstar set a $75.00 price target on Nike and gave the company a hold rating in a research report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $85.63.

NYSE:NKE traded up $1.89 during trading hours on Monday, hitting $74.08. 522,533 shares of the company’s stock traded hands, compared to its average volume of 8,562,464. The firm has a market capitalization of $114.45 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 2.25 and a beta of 0.65. Nike has a twelve month low of $54.52 and a twelve month 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.

Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.92 billion. Nike had a return on equity of 40.69% and a net margin of 5.57%. Nike’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. Equities analysts forecast that Nike will post 2.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.08%. Nike’s dividend payout ratio (DPR) is presently 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 stock was sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now owns 26,963 shares in the company, valued at approximately $2,293,203.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 17,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $83.15, for a total value of $1,413,550.00. Following the sale, the executive vice president now owns 104,737 shares of the company’s stock, valued at approximately $8,708,881.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock valued at $4,219,350. 3.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. bought a new stake in Nike during the 2nd quarter valued at approximately $104,000. BDO Wealth Advisors LLC boosted its stake in Nike by 1,044.3% during the 2nd quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock valued at $111,000 after purchasing an additional 1,274 shares during the period. CSat Investment Advisory L.P. bought a new stake in Nike during the 2nd quarter valued at approximately $119,000. Polaris Greystone Financial Group LLC bought a new stake in Nike during the 3rd quarter valued at approximately $119,000. Finally, Global Trust Asset Management LLC boosted its stake in Nike by 1,253.8% during the 3rd quarter. Global Trust Asset Management LLC now owns 1,760 shares of the footwear maker’s stock valued at $149,000 after purchasing an additional 1,630 shares during the period. Institutional investors own 64.49% of the company’s stock.

About Nike

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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