NIKE (NYSE:NKE) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of NIKE (NYSE:NKE) in a report issued on Thursday,Benzinga reports. The firm currently has a $80.00 price target on the footwear maker’s stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lowered their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company reduced their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Royal Bank of Canada reduced their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. UBS Group reissued a “neutral” rating and issued a $73.00 price target on shares of NIKE in a report on Thursday, December 26th. Finally, BMO Capital Markets increased their price target on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.77.

NIKE Price Performance

NKE stock opened at $71.75 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE has a 1 year low of $70.32 and a 1 year high of $107.43. The firm has a market cap of $106.13 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The stock has a 50-day simple moving average of $75.45 and a 200-day simple moving average of $78.10.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Trading of NIKE

Large investors have recently added to or reduced their stakes in the business. Range Financial Group LLC acquired a new position in shares of NIKE during the 4th quarter valued at $642,000. Cacti Asset Management LLC acquired a new position in shares of NIKE during the 4th quarter valued at $9,987,000. Capricorn Fund Managers Ltd acquired a new position in shares of NIKE during the 4th quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. increased its position in shares of NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC increased its position in shares of NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

About NIKE

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.