NIKE’s (NKE) Hold Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of NIKE (NYSE:NKE) in a research report released on Friday, Marketbeat reports. The brokerage currently has a $88.00 price target on the footwear maker’s stock, down from their previous price target of $117.00.

A number of other analysts also recently issued reports on NKE. Jefferies Financial Group lowered their price objective on shares of NIKE from $110.00 to $100.00 and set a hold rating on the stock in a report on Friday, March 22nd. Piper Sandler lowered their price target on shares of NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a research note on Friday, March 22nd. Wells Fargo & Company reduced their price objective on shares of NIKE from $120.00 to $115.00 and set an overweight rating for the company in a research note on Monday, June 10th. The Goldman Sachs Group lowered their target price on NIKE from $135.00 to $120.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Finally, Telsey Advisory Group reissued an outperform rating and set a $115.00 price target on shares of NIKE in a research report on Friday, June 21st. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $98.96.

NIKE Price Performance

Shares of NYSE NKE opened at $75.37 on Friday. The company has a fifty day moving average price of $93.28 and a 200 day moving average price of $98.85. The firm has a market cap of $113.76 billion, a PE ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE has a 1-year low of $74.55 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts predict that NIKE will post 3.9 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. NIKE’s payout ratio is presently 39.68%.

Insider Activity

In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,660 shares of company stock worth $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in NIKE in the fourth quarter valued at about $1,315,097,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the last quarter. Capital International Investors boosted its stake in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD bought a new stake in shares of NIKE during the 1st quarter valued at approximately $533,533,000. Finally, Capital World Investors increased its position in NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. Institutional investors and hedge funds 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.