Raymond James Reaffirms Market Perform Rating for NIKE (NYSE:NKE)

Raymond James reaffirmed their market perform rating on shares of NIKE (NYSE:NKE) in a report released on Friday morning, MarketBeat reports.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a research report on Friday. Wedbush reduced their price target on NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a research note on Friday. Truist Financial reissued a hold rating and set a $99.00 price objective on shares of NIKE in a research report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a $115.00 target price on shares of NIKE in a research report on Thursday, June 13th. Finally, Barclays reduced their target price on NIKE from $142.00 to $114.00 and set an overweight rating for the company in a report on Monday, March 25th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of Hold and a consensus price target of $98.96.

NIKE Price Performance

Shares of NIKE stock opened at $76.83 on Friday. The business has a 50 day moving average of $93.28 and a 200 day moving average of $98.85. NIKE has a 52 week low of $74.29 and a 52 week high of $123.39. The company has a market cap of $115.96 billion, a PE ratio of 20.60, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. As a group, equities research analysts forecast that NIKE will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sherbrooke Park Advisers LLC bought a new stake in shares of NIKE during the 3rd quarter worth approximately $432,000. United Services Automobile Association lifted its stake in NIKE by 18.1% in the third quarter. United Services Automobile Association now owns 33,626 shares of the footwear maker’s stock worth $3,215,000 after acquiring an additional 5,165 shares during the period. Kidder Stephen W grew its holdings in NIKE by 5.3% during the 3rd quarter. Kidder Stephen W now owns 36,552 shares of the footwear maker’s stock worth $3,495,000 after acquiring an additional 1,850 shares in the last quarter. Gateway Advisory LLC purchased a new position in NIKE during the 3rd quarter valued at about $583,000. Finally, Quadrature Capital Ltd raised its holdings in shares of NIKE by 80.9% in the 3rd quarter. Quadrature Capital Ltd now owns 1,066,172 shares of the footwear maker’s stock valued at $101,969,000 after purchasing an additional 476,837 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.