NIKE (NYSE:NKE) Stock Rating Reaffirmed by Stifel Nicolaus

Stifel Nicolaus restated their hold rating on shares of NIKE (NYSE:NKE) in a report published on Friday, Marketbeat Ratings reports. They currently have a $88.00 price target on the footwear maker’s stock, down from their previous price target of $117.00.

Several other equities research analysts have also recently weighed in on NKE. Robert W. Baird decreased their price objective on shares of NIKE from $125.00 to $100.00 and set an outperform rating for the company in a research report on Friday. TD Cowen lowered their price objective on NIKE from $89.00 to $75.00 and set a hold rating for the company in a research report on Friday. StockNews.com lowered NIKE from a buy rating to a hold rating in a research report on Friday, June 21st. Oppenheimer reiterated an outperform rating and issued a $120.00 target price on shares of NIKE in a report on Friday. Finally, Morgan Stanley cut their price target on NIKE from $116.00 to $114.00 and set an overweight rating on the stock in a report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $98.96.

NIKE Stock Up 1.9 %

Shares of NYSE:NKE opened at $76.83 on Friday. The business has a fifty day simple moving average of $93.28 and a 200 day simple moving average of $98.85. NIKE has a 12-month low of $74.29 and a 12-month high of $123.39. The firm has a market cap of $115.96 billion, a P/E ratio of 20.60, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. Analysts predict that NIKE will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

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

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

A number of large investors have recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC grew its position in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Annapolis Financial Services LLC lifted its stake in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the last quarter. Planned Solutions Inc. purchased a new position in NIKE in the fourth quarter valued at approximately $29,000. True Wealth Design LLC grew its holdings in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Core Wealth Advisors Inc. increased its position in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.