Citigroup has upgraded the shares of NIKE (NYSE: NKE – Get a Note) to a neutral rating in a research report sent to investors on Friday, reports The Fly.
NKE has been the subject of a number of other research reports. Telsey Advisory Group lowered its price target on NIKE from $140.00 to $130.00 and set an outperform rating for the stock in a Tuesday, June 28 research report. UBS Group lowered its price target on NIKE from $168.00 to $156.00 in a Friday, July 15 research report. Morgan Stanley lowered its price target on NIKE from $159.00 to $149.00 and set an overweight rating for the stock in a Tuesday, June 28 research report. Wedbush lowered its price target on NIKE from $139.00 to $130.00 and set an outperform rating for the stock in a Tuesday, June 28 research report. Finally, Stifel Nicolaus lowered his target price on NIKE from $135.00 to $130.00 in a Wednesday, July 20 research report. Eleven analysts rated the stock with a hold rating and twenty gave the stock a buy rating. According to MarketBeat.com, the company has a Moderate Buy consensus rating and a consensus target price of $137.46.
Performance of NIKE shares
NKE opened at $113.16 on Friday. NIKE has a 52-week low of $99.53 and a 52-week high of $179.10. The company has a market capitalization of $177.50 billion, a PE ratio of 30.10, a PEG ratio of 2.39 and a beta of 1.02. The company has a debt ratio of 0.58, a quick ratio of 1.84 and a current ratio of 2.63. The company’s 50-day simple moving average is $109.39 and its 200-day simple moving average is $120.99.
NIKE (NYSE:NKE – Get Rating) last released its results on Monday, June 27. The shoemaker reported earnings per share (EPS) of $0.90 for the quarter, beating the consensus estimate of $0.81 by $0.09. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company posted revenue of $12.20 billion for the quarter, versus analyst estimates of $12.10 billion. In the same quarter a year earlier, the company posted earnings per share of $0.93. NIKE revenue was down 0.8% year over year. As a group, sell-side analysts expect NIKE to post earnings per share of 3.8 for the current fiscal year.
NIKE said its board authorized a stock repurchase plan on Monday, June 27 that sees the company repurchase $18.00 billion worth of stock. This repurchase authorization allows the shoemaker to purchase up to 11% of its inventory through open market purchases. Stock buyback plans are usually a sign that a company’s management believes its stock is undervalued.
NIKE announces dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3. Shareholders of record on Tuesday, September 6 will receive a dividend of $0.305 per share. The ex-dividend date is Friday, September 2. This represents an annualized dividend of $1.22 and a dividend yield of 1.08%. NIKE’s payout rate is currently 32.45%.
Insider Activity at NIKE
In other news, Executive Vice President Monique S. Matheson sold 19,500 shares of the company in a trade on Tuesday, July 5. The shares were sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following completion of the transaction, the executive vice president now directly owns 80,355 shares of the company, valued at approximately $8,312,724.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. In other news, Executive Vice President Monique S. Matheson sold 30,000 NIKE shares in a trade Thursday, July 7. The shares were sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the completion of the sale, the executive vice president now directly owns 60,330 shares of the company, valued at approximately $6,466,772.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, Executive Vice President Monique S. Matheson sold 19,500 NIKE shares in a trade on Tuesday, July 5. The stock was sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the sale, the executive vice president now directly owns 80,355 shares of the company, valued at $8,312,724.75. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 82,796 shares of the company worth $9,085,334. Company insiders own 0.40% of the company’s shares.
NIKE Institutional Trade
A number of hedge funds have recently changed their positions in the stock. Aquire Wealth Advisors LLC bought a new stake in NIKE in the fourth quarter worth $26,000. New England Inc.’s Retirement Planning Co bought a new stake in NIKE in the fourth quarter for $26,000. FNY Investment Advisers LLC bought a new stake in NIKE in the first quarter worth $26,000. LFA Lugano Financial Advisors SA increased its stake in NIKE by 63.3% in the second quarter. LFA Lugano Financial Advisors SA now owns 258 shares of the shoemaker worth $26,000 after buying 100 more shares in the last quarter. Finally, Antonetti Capital Management LLC increased its stake in NIKE by 900.0% in the first quarter. Antonetti Capital Management LLC now owns 200 shares of the shoemaker worth $27,000 after buying an additional 180 shares in the last quarter. 65.35% of the shares are held by institutional investors.
NIKE Company Profile
(Get a rating)
NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for men, women and children worldwide. The Company provides athletic and recreational footwear, apparel and accessories under the Jumpman brand; and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.
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