NIKE’s (NKE) “Neutral” Rating Reiterated at UBS Group

UBS Group reissued their neutral rating on shares of NIKE (NYSE:NKE) in a research note released on Thursday,Benzinga reports. They currently have a $73.00 price target on the footwear maker’s stock.

A number of other equities analysts also recently issued reports on NKE. TD Cowen decreased their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.58.

NIKE Price Performance

NKE opened at $76.42 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market capitalization of $114.58 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The stock’s 50 day moving average price is $77.47 and its 200-day moving average price is $79.89. NIKE has a 52-week low of $70.75 and a 52-week high of $109.96.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts predict that NIKE will post 2.72 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is presently 49.38%.

Institutional Investors Weigh In On NIKE

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Insurance & Annuity Association of America bought a new stake in NIKE during the third quarter valued at approximately $30,000. VitalStone Financial LLC grew its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Dunhill Financial LLC increased its stake in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares in the last quarter. Riverview Trust Co bought a new position in NIKE in the 3rd quarter worth $52,000. Finally, Catalyst Capital Advisors LLC purchased a new position in NIKE during the third quarter valued at $54,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.