Nike Rating Lowered on Concerns of Rising Competitive Pressure

Nike, Inc. - NKE - Stock Price Today - Zacks

Nike, Inc. - NKE - Stock Price Today - Zacks

On the books, Nike cash, cash equivalents, and short-term investments totaled $5.52 billion at the end of the quarter, compared with $4.79 billion at the end of the same period past year. Geode Management Limited Liability Company reported 13.90 million shares or 0.32% of all its holdings. According to CFO Andy Campion, the effective tax rate was 11.4 percent for the quarter compared to 2.5 percent in the year prior due to "a one-time benefit related to the resolution with the IRS of a foreign tax credit matter in the prior year".

But before the results were released, analysts at Canaccord Genuity expressed concern over what they saw as Nike's "stale innovation pipeline" and a "resurging Adidas". GuruFocus ranked Nike's business predictability 4.5 stars, suggesting consistent revenue and earnings growth over the past 10 years.

Several other institutional investors have also recently made changes to their positions in NKE.

COPYRIGHT VIOLATION WARNING: This story was originally posted by Week Herald and is owned by of Week Herald. The stock was purchased at an average cost of $56.30 per share, with a total value of $56,300.00. Fifth Third Bancorp lifted its stake in shares of Nike by 3.7% during the first quarter. Stifel Nicolaus set a $66.00 price objective on Nike and gave the stock a "buy" rating in a research report on Saturday, July 22nd. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Following the completion of the transaction, the chief financial officer now directly owns 34,976 shares in the company, valued at approximately $2,077,574.40. The count of Hold ratings in that period was 0. BancorpSouth Inc now owns 7,406 shares of the footwear maker's stock valued at $390,000 after buying an additional 33 shares during the period. Finally, Barclays PLC reiterated an "overweight" rating and issued a $65.00 price objective on shares of Nike in a research report on Friday, June 30th. Rbf Capital Llc owns 175,958 shares or 0.15% of their USA portfolio. Weatherly Asset Management sold 3,080 shares as the company's stock rose 3.62% with the market.

Chelsea Manager Antonio Conte Hints Return to Italy Sooner than Later
Jose Mourinho was sacked and Guus Hiddink steadied the ship but Conte took them to the tltle and back into the Champions League. I have had attractive and formative experiences here, but I will definitely return to Italy .

In other news, Director John C. Lechleiter bought 1,000 shares of the business's stock in a transaction dated Friday, March 24th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-one have issued a buy rating to the stock. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker's stock valued at $298,145,000 after purchasing an additional 5,274,656 shares in the last quarter. Pioneer Investment Management Inc. now owns 3,157,306 shares of the footwear maker's stock valued at $175,956,000 after purchasing an additional 1,642,177 shares in the last quarter. "These points, coupled with Nike's market penetration, amplify the company's North American challenges and contribute to a prolonged time frame for an inflection driven more so by increased direct-to-consumer (where growth has slowed), in our view". Stifel Fincl Corp owns 0% invested in EPAM Systems Inc (NYSE:EPAM) for 5,263 shares. Shareholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. Its down 0.07, from 1.07 in 2017Q1. The ex-dividend date is Thursday, August 31st. The disclosure for this sale can be found here. Nike's payout ratio is presently 28.69%.

Marketing has reached out to Nike for comment.

The chart below is not what you want to see if you're Nike. The Company's operating divisions include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Trevor Edwards, Nike brand president, explained the Jordan Basketball Experience during the earnings call, mentioning NBA players can directly connect with fans through the digital platform.

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