Nike (NYSE:NKE) Now Covered by Oppenheimer

Oppenheimer started coverage on shares of Nike (NYSE:NKE) in a research report released on Friday morning, TipRanks reports. The brokerage issued a buy rating and a $115.00 target price on the footwear maker’s stock.

Several other equities analysts have also recently issued reports on the stock. HSBC reiterated a neutral rating and set a $96.00 price target on shares of Nike in a research report on Thursday, April 9th. Stifel Nicolaus reiterated a buy rating and set a $110.00 price target on shares of Nike in a research report on Friday. Bank of America upgraded shares of Nike from a neutral rating to a buy rating and reduced their price target for the company from $105.00 to $85.00 in a research report on Friday, March 20th. Pivotal Research reiterated a buy rating and set a $115.00 price target on shares of Nike in a research report on Tuesday, June 23rd. Finally, Barclays boosted their price target on shares of Nike from $92.00 to $118.00 and gave the company an overweight rating in a research report on Friday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have given a buy rating to the company. Nike presently has a consensus rating of Buy and a consensus target price of $108.96.

Shares of NYSE:NKE opened at $95.87 on Friday. The company has a market cap of $148.25 billion, a price-to-earnings ratio of 60.68, a price-to-earnings-growth ratio of 3.05 and a beta of 0.78. The company has a 50-day moving average price of $96.23 and a 200-day moving average price of $93.53. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.69. Nike has a 12 month low of $60.00 and a 12 month high of $105.62.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.53). The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $7.26 billion. Nike had a net margin of 6.79% and a return on equity of 31.93%. The business’s revenue was down 38.0% on a year-over-year basis. During the same period last year, the company posted $0.62 earnings per share. As a group, research analysts forecast that Nike will post 2.51 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, May 29th. Nike’s payout ratio is 52.97%.

In related news, Director John W. Rogers, Jr. acquired 1,000 shares of the stock in a transaction that occurred on Friday, April 3rd. The shares were bought at an average price of $84.63 per share, for a total transaction of $84,630.00. Following the completion of the transaction, the director now directly owns 12,851 shares in the company, valued at $1,087,580.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Hilary K. Krane sold 11,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $90.00, for a total transaction of $990,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,000 shares of company stock worth $23,228,100. 3.80% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of NKE. Norges Bank bought a new position in Nike during the fourth quarter valued at approximately $1,314,457,000. Fisher Asset Management LLC raised its position in Nike by 19,144.2% in the first quarter. Fisher Asset Management LLC now owns 5,892,758 shares of the footwear maker’s stock worth $487,567,000 after acquiring an additional 5,862,137 shares during the period. Morgan Stanley raised its position in Nike by 34.4% in the first quarter. Morgan Stanley now owns 20,528,550 shares of the footwear maker’s stock worth $1,698,534,000 after acquiring an additional 5,256,195 shares during the period. Alliancebernstein L.P. raised its position in Nike by 36.5% in the fourth quarter. Alliancebernstein L.P. now owns 15,559,748 shares of the footwear maker’s stock worth $1,576,358,000 after acquiring an additional 4,159,675 shares during the period. Finally, Fundsmith LLP bought a new position in Nike in the first quarter worth approximately $191,903,000. Institutional investors own 64.54% of the company’s stock.

Nike Company Profile

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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Analyst Recommendations for Nike (NYSE:NKE)

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