NIKE (NYSE:NKE) Cut to Equal Weight at Barclays

Barclays downgraded shares of NIKE (NYSE:NKE) from an overweight rating to an equal weight rating in a research report report published on Friday, MarketBeat reports. They currently have $80.00 price objective on the footwear maker’s stock, down from their prior price objective of $109.00.

A number of other equities analysts have also weighed in on the company. Piper Sandler lowered their target price on NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a research note on Friday, March 22nd. Telsey Advisory Group lowered their price objective on NIKE from $115.00 to $100.00 and set an outperform rating on the stock in a research report on Friday. Sanford C. Bernstein reduced their target price on shares of NIKE from $134.00 to $120.00 and set an outperform rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $83.00 price target (down from $116.00) on shares of NIKE in a research report on Friday. Finally, The Goldman Sachs Group cut their price objective on shares of NIKE from $135.00 to $120.00 and set a buy rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of Hold and a consensus target price of $98.96.

NIKE Trading Up 1.9 %

NKE stock opened at $76.83 on Friday. NIKE has a one year low of $74.29 and a one year high of $123.39. The stock has a market cap of $115.96 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company has a fifty day moving average price of $93.28 and a two-hundred day moving average price of $98.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities analysts anticipate that NIKE will post 3.9 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.93%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several hedge funds have recently added to or reduced their stakes in the business. Cim LLC bought a new position in shares of NIKE during the fourth quarter valued at $14,275,000. TKG Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at $1,012,000. Louisiana State Employees Retirement System bought a new position in NIKE during the 4th quarter worth $8,034,000. Financial Gravity Asset Management Inc. lifted its holdings in NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after buying an additional 176,476 shares during the period. Finally, Brown Advisory Inc. grew its position in shares of NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after buying an additional 192,752 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.