NIKE (NYSE:NKE) Earns Neutral Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of NIKE (NYSE:NKEGet Rating) in a research report released on Wednesday morning. The brokerage issued a neutral rating and a $115.00 price objective on the footwear maker’s stock.

Other equities research analysts have also issued reports about the company. KeyCorp assumed coverage on NIKE in a research note on Wednesday, July 20th. They set a sector weight rating for the company. Jefferies Financial Group set a $155.00 target price on NIKE in a research report on Tuesday, June 28th. HSBC decreased their target price on NIKE from $140.00 to $132.00 and set a hold rating for the company in a research report on Tuesday, June 14th. The Goldman Sachs Group decreased their target price on NIKE from $155.00 to $120.00 and set a buy rating for the company in a research report on Wednesday, June 29th. Finally, Cowen decreased their target price on NIKE from $139.00 to $133.00 and set an outperform rating for the company in a research report on Thursday, June 23rd. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $139.08.

NIKE Stock Performance

NKE opened at $113.87 on Wednesday. The firm has a market cap of $178.61 billion, a PE ratio of 30.28, a P/E/G ratio of 2.40 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $110.34 and a 200-day simple moving average of $123.47. NIKE has a fifty-two week low of $99.53 and a fifty-two week high of $179.10.

NIKE (NYSE:NKEGet Rating) last released its quarterly earnings data on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.09. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $12.10 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. As a group, equities analysts predict that NIKE will post 3.82 EPS for the current fiscal year.

NIKE declared that its board has authorized a stock buyback plan on Monday, June 27th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the footwear maker to repurchase up to 11% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 1.07%. NIKE’s dividend payout ratio (DPR) is currently 32.45%.

Insider Buying and Selling at NIKE

In other NIKE news, COO Andrew Campion sold 14,203 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $120.61, for a total transaction of $1,713,023.83. Following the transaction, the chief operating officer now directly owns 73,795 shares in the company, valued at $8,900,414.95. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Andrew Campion sold 14,203 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $120.61, for a total value of $1,713,023.83. Following the sale, the chief operating officer now directly owns 73,795 shares of the company’s stock, valued at $8,900,414.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matthew Friend sold 9,032 shares of the firm’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $110.52, for a total value of $998,216.64. Following the completion of the sale, the chief financial officer now directly owns 51,581 shares in the company, valued at $5,700,732.12. The disclosure for this sale can be found here. Insiders have sold a total of 82,796 shares of company stock worth $9,085,334 over the last three months. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several hedge funds and other institutional investors have recently made changes to their positions in NKE. Prestige Wealth Management Group LLC raised its stake in NIKE by 3.2% during the fourth quarter. Prestige Wealth Management Group LLC now owns 2,292 shares of the footwear maker’s stock worth $382,000 after buying an additional 70 shares during the last quarter. Resources Management Corp CT ADV raised its stake in NIKE by 0.5% during the fourth quarter. Resources Management Corp CT ADV now owns 15,025 shares of the footwear maker’s stock worth $2,504,000 after buying an additional 71 shares during the last quarter. Cavalier Investments LLC raised its stake in NIKE by 0.7% during the fourth quarter. Cavalier Investments LLC now owns 10,217 shares of the footwear maker’s stock worth $1,703,000 after buying an additional 72 shares during the last quarter. Capital Analysts LLC raised its stake in NIKE by 3.2% during the fourth quarter. Capital Analysts LLC now owns 2,353 shares of the footwear maker’s stock worth $392,000 after buying an additional 72 shares during the last quarter. Finally, Vectors Research Management LLC raised its stake in NIKE by 11.3% during the fourth quarter. Vectors Research Management LLC now owns 708 shares of the footwear maker’s stock worth $118,000 after buying an additional 72 shares during the last quarter. 65.35% of the stock is owned by institutional investors and hedge funds.

NIKE Company Profile

(Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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Analyst Recommendations for NIKE (NYSE:NKE)

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