NIKE (NYSE:NKE) Updated on Citigroup


Citigroup upgraded shares of NIKE (New York Stock Exchange: NOget rating) to a neutral rating in a research report sent to investors on Friday, The fly reports.

NKE has been the subject of a number of other investigative reports. Telsey Advisory Group lowered NIKE’s price target from $140.00 to $130.00 and set an outperform rating on the stock in a research report dated Tuesday, June 28. UBS Group lowered its price target on NIKE from $168.00 to $156.00 in a research report on Friday, July 15. Morgan Stanley lowered NIKE’s price target from $159.00 to $149.00 and placed an overweight rating on the stock in a research report on Tuesday, June 28. Wedbush lowered its price target on NIKE from $139.00 to $130.00 and set an outperformance rating on the stock in a research report Tuesday, June 28. Finally, Stifel Nicolaus lowered its price target on NIKE from $135.00 to $130.00 in a research report on Wednesday, July 20. Eleven analysts have rated the stock a hold rating and twenty have given the stock a buy rating. According to MarketBeat.com, the company has a moderate buy consensus rating and a consensus price target of $137.46.

Return on NIKE Stock

OF opened at $113.16 on Friday. NIKE has a 52-week minimum of $99.53 and a 52-week maximum of $179.10. The company has a market cap of $177.5 billion, a PE ratio of 30.10, a PEG ratio of 2.39, and a beta of 1.02. The firm has a debt-to-equity 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.

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NIKE (New York Stock Exchange: NOget rating) last posted its earnings 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 business had revenue of $12.20 billion in the quarter, compared to analyst estimates of $12.10 billion. During the same quarter of the previous year, the company posted earnings per share of $0.93. NIKE’s revenue fell 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 stated that its board of directors authorized a share repurchase plan on Monday June 27 that allows the company to repurchase $18 billion worth of shares. This repurchase authorization allows the shoemaker to purchase up to 11% of its shares through open market purchases. Stock repurchase plans are usually a sign that company management believes its stock is undervalued.

NIKE announces dividend

The company also recently declared a quarterly dividend, to 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%.

Internal activity at NIKE

In other news, Executive Vice President Monique S. Matheson sold 19,500 shares of the company in a transaction on Tuesday, July 5. The shares were sold at an average price of $103.45, for a total transaction of $2,017,275.00. Upon completion of the transaction, the Executive Vice President now directly owns 80,355 shares in the company, valued at approximately $8,312,724.75. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through the SEC website. In other news, EVP Monique S Matheson sold 30,000 shares of NIKE in a transaction on Thursday, July 7. The shares were sold at an average price of $107.19, for a total transaction of $3,215,700.00. After completing 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 and Exchange Commission, which can be accessed via this hyperlink. In addition, EVP Monique S Matheson sold 19,500 shares of NIKE in a transaction 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 the sale, the executive vice president now directly owns 80,355 shares of the company, valued at $8,312,724.75. Disclosure of this sale can be found here. In the last ninety days, insiders sold 82,796 shares of the company worth $9,085,334. Corporate insiders own 0.40% of the company’s shares.

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NIKE Institutional Negotiation

Several hedge funds have recently made changes to their positions in the stock. Aquire Wealth Advisors LLC bought a new stake in NIKE in the fourth quarter for $26,000. Retirement Planning Co of New England Inc. bought a new stake in NIKE in the fourth quarter for $26,000. FNY Investment Advisers LLC purchased a new stake in NIKE in the first quarter for $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 an additional 100 shares 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 last quarter. 65.35% of the shares are owned by institutional investors.

Nike Company Profile

(get rating)

NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for men, women and children throughout the world. The company offers athletic and casual footwear, apparel and accessories under the Jumpman trademark; and casual shoes, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell trademarks.

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