NIKE (NYSE:NKE) Receives New Coverage from Analysts at Truist Financial

Truist Financial began coverage on shares of NIKE (NYSE:NKE) in a research note released on Friday, Marketbeat.com reports. The firm issued a hold rating and a $108.00 price objective on the footwear maker’s stock.

Other equities analysts have also recently issued reports about the company. Raymond James lowered their price objective on NIKE from $128.00 to $121.00 and set an outperform rating on the stock in a research report on Tuesday, September 26th. BNP Paribas downgraded shares of NIKE from a neutral rating to an underperform rating in a research note on Tuesday, July 25th. BMO Capital Markets lowered their price target on NIKE from $120.00 to $110.00 and set an outperform rating for the company in a report on Friday, September 29th. Royal Bank of Canada reaffirmed an outperform rating and set a $113.00 price target on shares of NIKE in a research report on Friday, October 6th. Finally, Telsey Advisory Group reissued an outperform rating and issued a $128.00 target price on shares of NIKE in a research report on Friday, September 29th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $122.03.

NIKE Stock Performance

NYSE:NKE opened at $106.32 on Friday. The company has a market capitalization of $161.81 billion, a P/E ratio of 32.81, a P/E/G ratio of 1.79 and a beta of 1.09. NIKE has a 1 year low of $88.66 and a 1 year high of $131.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.87 and a quick ratio of 1.84. The business has a fifty day simple moving average of $99.94 and a two-hundred day simple moving average of $105.52.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, September 28th. The footwear maker reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.20. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $13 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. On average, analysts expect that NIKE will post 3.74 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, December 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from NIKE’s previous quarterly dividend of $0.34. NIKE’s dividend payout ratio (DPR) is presently 41.98%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan purchased 13,072 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was bought at an average price of $96.13 per share, with a total value of $1,256,611.36. Following the transaction, the director now directly owns 18,005 shares of the company’s stock, valued at approximately $1,730,820.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert Holmes Swan acquired 13,072 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was acquired at an average cost of $96.13 per share, with a total value of $1,256,611.36. Following the transaction, the director now owns 18,005 shares in the company, valued at $1,730,820.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 58,091 shares of NIKE stock in a transaction on Monday, October 16th. The stock was sold at an average price of $99.60, for a total transaction of $5,785,863.60. Following the sale, the chairman now directly owns 1,255,600 shares of the company’s stock, valued at $125,057,760. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. America First Investment Advisors LLC purchased a new stake in shares of NIKE in the first quarter valued at about $27,000. Tucker Asset Management LLC purchased a new stake in NIKE during the first quarter worth about $29,000. Marquette Asset Management LLC lifted its holdings in shares of NIKE by 201.3% in the second quarter. Marquette Asset Management LLC now owns 241 shares of the footwear maker’s stock valued at $27,000 after purchasing an additional 161 shares in the last quarter. Financial Freedom LLC purchased a new stake in shares of NIKE in the fourth quarter valued at about $29,000. Finally, Horizon Bancorp Inc. IN purchased a new stake in shares of NIKE in the second quarter valued at about $29,000. 63.42% of the stock is currently owned by institutional investors and hedge funds.

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.