BTIG Research downgraded shares of NIKE (NYSE:NKE) from a buy rating to a neutral rating in a report published on Monday morning, Analyst Price Targets reports.
Other equities analysts also recently issued research reports about the stock. Piper Sandler boosted their target price on shares of NIKE from $170.00 to $174.00 and gave the stock an overweight rating in a report on Friday, June 25th. Morgan Stanley upped their price target on shares of NIKE from $214.00 to $221.00 and gave the company an overweight rating in a research note on Tuesday, September 7th. Royal Bank of Canada upped their price target on shares of NIKE from $165.00 to $183.00 and gave the company an outperform rating in a research note on Friday, June 25th. BMO Capital Markets upped their price target on shares of NIKE from $160.00 to $174.00 and gave the company an outperform rating in a research note on Friday, June 25th. Finally, Stifel Nicolaus upped their price target on shares of NIKE from $168.00 to $213.00 and gave the company a buy rating in a research note on Friday, June 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has a consensus rating of Buy and an average price target of $173.26.
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NKE opened at $159.52 on Monday. The firm has a market cap of $252.33 billion, a P/E ratio of 44.81, a PEG ratio of 2.49 and a beta of 0.87. NIKE has a 1-year low of $111.74 and a 1-year high of $174.38. The company has a 50 day simple moving average of $165.79 and a two-hundred day simple moving average of $146.46. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.72 and a quick ratio of 2.01.
NIKE (NYSE:NKE) last posted its quarterly earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.42. The business had revenue of $12.30 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The company’s revenue was up 94.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.51) earnings per share. Equities analysts anticipate that NIKE will post 4.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Monday, August 30th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, August 27th. NIKE’s payout ratio is 30.90%.
In other NIKE news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction dated Friday, June 25th. The shares were sold at an average price of $152.00, for a total transaction of $1,520,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heidi O’neill sold 25,000 shares of the stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $152.00, for a total transaction of $3,800,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 379,671 shares of company stock valued at $60,634,427. Insiders own 3.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. raised its position in NIKE by 9.0% during the 1st quarter. Alliancebernstein L.P. now owns 20,039,248 shares of the footwear maker’s stock worth $2,663,015,000 after buying an additional 1,649,988 shares during the last quarter. Welch & Forbes LLC raised its position in NIKE by 2.7% during the 2nd quarter. Welch & Forbes LLC now owns 67,957 shares of the footwear maker’s stock worth $10,498,000 after buying an additional 1,792 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG raised its position in NIKE by 23.1% during the 1st quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 1,531,962 shares of the footwear maker’s stock worth $203,618,000 after buying an additional 287,639 shares during the last quarter. Haverford Trust Co. grew its stake in shares of NIKE by 12.4% during the 1st quarter. Haverford Trust Co. now owns 24,020 shares of the footwear maker’s stock worth $3,192,000 after purchasing an additional 2,653 shares during the period. Finally, Payden & Rygel grew its stake in shares of NIKE by 37.9% during the 2nd quarter. Payden & Rygel now owns 16,000 shares of the footwear maker’s stock worth $2,472,000 after purchasing an additional 4,400 shares during the period. 64.45% of the stock is owned by institutional investors.
About NIKE
NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.
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