NIKE’s (NKE) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of NIKE (NYSE:NKE) in a research note published on Monday morning,Benzinga reports. Telsey Advisory Group currently has a $80.00 price target on the footwear maker’s stock.

A number of other brokerages also recently commented on NKE. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Guggenheim reissued a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Bank of America dropped their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company lowered their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Finally, Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.54.

NIKE Price Performance

Shares of NKE stock opened at $72.92 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock’s fifty day moving average is $74.76 and its 200-day moving average is $77.60. NIKE has a 52 week low of $68.62 and a 52 week high of $101.92. The stock has a market capitalization of $107.86 billion, a PE ratio of 22.51, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. Equities research analysts expect that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NIKE

Institutional investors have recently made changes to their positions in the business. Heck Capital Advisors LLC bought a new position in NIKE in the 4th quarter worth $28,000. Caitlin John LLC raised its stake in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the third quarter valued at approximately $30,000. Roxbury Financial LLC purchased a new stake in shares of NIKE in the fourth quarter worth about $30,000. Finally, LFA Lugano Financial Advisors SA raised its holdings in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares in the last quarter. 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.