NIKE’s (NKE) Market Perform Rating Reiterated at Raymond James

Raymond James reiterated their market perform rating on shares of NIKE (NYSE:NKE) in a research report sent to investors on Friday, MarketBeat reports.

NKE has been the topic of a number of other reports. TD Cowen dropped their price objective on shares of NIKE from $89.00 to $75.00 and set a hold rating on the stock in a report on Friday. Royal Bank of Canada restated a sector perform rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Oppenheimer reissued an outperform rating and issued a $120.00 target price on shares of NIKE in a research note on Friday. StockNews.com lowered NIKE from a buy rating to a hold rating in a research note on Friday, June 21st. Finally, Piper Sandler reduced their target price on NIKE from $107.00 to $98.00 and set a neutral rating for the company in a research note 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 company’s stock. According to data from MarketBeat, NIKE currently has an average rating of Hold and an average price target of $98.96.

NIKE Stock Down 20.0 %

NYSE NKE opened at $75.37 on Friday. NIKE has a 1-year low of $74.55 and a 1-year high of $123.39. The company has a market capitalization of $113.76 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05. The stock’s 50 day moving average is $93.28 and its two-hundred day moving average is $98.85. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts forecast that NIKE will post 3.9 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.96%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the firm’s 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 of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of 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. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC increased its holdings in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC increased its holdings in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new position in NIKE in the 4th quarter worth about $29,000. True Wealth Design LLC raised its position in NIKE by 106.4% in 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 last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter valued at about $33,000. Institutional investors own 64.25% of the company’s stock.

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.