NIKE (NYSE:NKE) Now Covered by Analysts at Truist Financial

Truist Financial initiated coverage on shares of NIKE (NYSE:NKE) in a research note published on Friday morning, MarketBeat reports. The firm issued a hold rating and a $108.00 target price on the footwear maker’s stock.

NKE has been the subject of several other reports. Telsey Advisory Group reissued an outperform rating and set a $128.00 price objective on shares of NIKE in a report on Friday, September 29th. Barclays lowered their price objective on shares of NIKE from $124.00 to $119.00 and set an overweight rating for the company in a research report on Friday, September 29th. Evercore ISI assumed coverage on shares of NIKE in a report on Tuesday, November 7th. They issued an outperform rating and a $124.00 target price for the company. KeyCorp initiated coverage on shares of NIKE in a research note on Tuesday, July 25th. They issued a sector weight rating on the stock. Finally, Guggenheim reiterated a buy rating and set a $135.00 price objective on shares of NIKE in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of Moderate Buy and an average price target of $122.03.

NIKE Price Performance

NKE stock opened at $106.32 on Friday. The firm’s 50-day moving average price is $99.94 and its two-hundred day moving average price is $105.52. NIKE has a 12-month low of $88.66 and a 12-month high of $131.31. The stock has a market capitalization of $161.81 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 1.79 and a beta of 1.09. The company has a current ratio of 2.87, a quick ratio of 1.84 and a debt-to-equity ratio of 0.64.

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

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be given a $0.37 dividend. 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. The ex-dividend date is Friday, December 1st. NIKE’s dividend payout ratio is 41.98%.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NKE. Impact Partnership Wealth LLC raised its position in shares of NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares in the last quarter. America First Investment Advisors LLC purchased a new stake in NIKE in the 1st quarter worth about $27,000. Marquette Asset Management LLC lifted its stake in NIKE by 201.3% in the 2nd quarter. Marquette Asset Management LLC now owns 241 shares of the footwear maker’s stock worth $27,000 after acquiring an additional 161 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in shares of NIKE during the 1st quarter worth about $29,000. Finally, Horizon Bancorp Inc. IN acquired a new position in shares of NIKE during the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 63.42% of the company’s stock.

About NIKE

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.