NIKE’s (NKE) “Buy” Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of NIKE (NYSE:NKE) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $110.00 target price on the footwear maker’s stock.

NKE has been the topic of several other reports. Stifel Nicolaus cut their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Royal Bank of Canada lowered their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.62.

NIKE Trading Down 0.3 %

Shares of NKE stock opened at $73.02 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE has a 1 year low of $68.62 and a 1 year high of $107.34. The firm has a fifty day moving average price of $74.58 and a 200-day moving average price of $78.00. The company has a market cap of $108.00 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. As a group, equities analysts predict that NIKE will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.19%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

A number of large investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new position in NIKE in the 4th quarter valued at about $28,000. Caitlin John LLC raised its holdings in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new position in NIKE in the third quarter valued at approximately $30,000. Roxbury Financial LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $30,000. Finally, LFA Lugano Financial Advisors SA grew its position in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. 64.25% of the stock is 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.