NIKE (NYSE:NKE) Lifted to Positive at OTR Global

OTR Global upgraded shares of NIKE (NYSE:NKE – Get Rating) to a positive rating in a research note released on Friday morning, The Fly reports.

NKE has been the subject of several other research reports. Bank of America lifted their price target on NIKE from $112.00 to $120.00 in a research note on Wednesday, December 21st. Wells Fargo & Company lifted their price objective on NIKE from $135.00 to $146.00 and gave the stock an overweight rating in a report on Thursday, January 26th. Jefferies Financial Group set a $140.00 price objective on NIKE in a report on Monday, January 2nd. BMO Capital Markets lifted their price objective on NIKE from $110.00 to $120.00 and gave the stock an outperform rating in a report on Wednesday, December 21st. Finally, KGI Securities upgraded NIKE from a neutral rating to an outperform rating in a report on Tuesday, January 10th. Twelve equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $130.25.

NIKE Trading Down 0.3 %

Shares of NKE stock opened at $117.49 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.69 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $123.81 and a two-hundred day moving average price of $109.59. NIKE has a 12-month low of $82.22 and a 12-month high of $139.86. The firm has a market cap of $182.18 billion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 3.93 and a beta of 1.10.

NIKE (NYSE:NKE – Get Rating) last issued its quarterly earnings results on Tuesday, December 20th. The footwear maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.20. NIKE had a return on equity of 36.83% and a net margin of 11.47%. The firm had revenue of $13.32 billion during the quarter, compared to analyst estimates of $12.61 billion. Equities analysts anticipate that NIKE will post 3.13 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 6th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 1.16%. NIKE’s payout ratio is presently 38.31%.

Insider Activity

In other news, EVP Monique S. Matheson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $115.83, for a total transaction of $579,150.00. Following the completion of the transaction, the executive vice president now directly owns 60,213 shares in the company, valued at $6,974,471.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Monique S. Matheson sold 5,000 shares of NIKE stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $115.83, for a total value of $579,150.00. Following the completion of the sale, the executive vice president now directly owns 60,213 shares in the company, valued at approximately $6,974,471.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter B. Henry acquired 557 shares of NIKE stock in a transaction that occurred on Tuesday, February 7th. The stock was acquired at an average price of $125.45 per share, with a total value of $69,875.65. Following the completion of the acquisition, the director now directly owns 4,062 shares in the company, valued at approximately $509,577.90. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of NIKE by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 108,615,256 shares of the footwear maker’s stock valued at $9,028,100,000 after purchasing an additional 984,780 shares during the period. State Street Corp lifted its position in shares of NIKE by 1.3% during the 3rd quarter. State Street Corp now owns 55,245,370 shares of the footwear maker’s stock valued at $4,608,491,000 after buying an additional 682,827 shares in the last quarter. Morgan Stanley lifted its position in shares of NIKE by 26.4% during the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after buying an additional 6,410,744 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NIKE by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 22,362,086 shares of the footwear maker’s stock valued at $2,612,331,000 after buying an additional 133,973 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of NIKE by 7.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,334,239 shares of the footwear maker’s stock valued at $2,028,279,000 after buying an additional 1,254,209 shares in the last quarter. 63.20% of the stock is currently owned by institutional investors.

About NIKE

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NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.