Nike Inc (NYSE:NKE) – Research analysts at Wedbush lifted their FY2019 earnings estimates for shares of Nike in a note issued to investors on Monday. Wedbush analyst C. Svezia now forecasts that the footwear maker will post earnings of $2.70 per share for the year, up from their prior estimate of $2.69. Wedbush has a “Outperform” rating and a $74.00 price objective on the stock.
A number of other research analysts have also weighed in on NKE. Vetr lowered Nike from a “buy” rating to a “hold” rating and set a $58.81 price objective on the stock. in a report on Friday, November 17th. Robert W. Baird reaffirmed a “buy” rating and set a $65.00 price objective on shares of Nike in a report on Friday, November 17th. HSBC lowered Nike from a “buy” rating to a “hold” rating and upped their price objective for the stock from $58.95 to $62.00 in a report on Tuesday, November 28th. OTR Global raised Nike to a “positive” rating in a report on Monday, December 11th. Finally, Susquehanna Bancshares reaffirmed a “hold” rating and set a $57.00 price objective on shares of Nike in a report on Wednesday, December 13th. Three equities 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 $66.10.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. Nike’s quarterly revenue was up 4.6% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in shares of Nike by 4,252.6% in the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after purchasing an additional 16,237,557 shares during the period. Capital World Investors raised its holdings in shares of Nike by 58.7% in the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after purchasing an additional 8,058,601 shares during the period. Harding Loevner LP raised its holdings in shares of Nike by 97.1% in the 3rd quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock worth $390,421,000 after purchasing an additional 5,987,728 shares during the period. Orbis Allan Gray Ltd purchased a new position in shares of Nike in the 2nd quarter worth about $226,588,000. Finally, Vanguard Group Inc. raised its holdings in shares of Nike by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock worth $5,876,718,000 after purchasing an additional 2,452,993 shares during the period. Hedge funds and other institutional investors own 65.76% of the company’s stock.
In related news, COO Eric D. Sprunk sold 226,040 shares of the stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the transaction, the chief operating officer now directly owns 165,591 shares in the company, valued at $10,448,792.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total value of $9,450,000.00. Following the transaction, the chairman now owns 1,637,736 shares in the company, valued at $114,641,520. The disclosure for this sale can be found here. Insiders have sold 1,057,896 shares of company stock worth $68,424,217 over the last quarter. 3.90% of the stock is currently owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.80 annualized dividend and a yield of 1.21%. Nike’s dividend payout ratio (DPR) is presently 34.63%.
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NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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