NIKE (NYSE:NKE) Downgraded to Neutral at KGI Securities

KGI Securities downgraded shares of NIKE (NYSE:NKEGet Rating) from an outperform rating to a neutral rating in a report published on Monday, The Fly reports.

Several other equities analysts have also recently weighed in on the company. Sanford C. Bernstein assumed coverage on NIKE in a research note on Monday, March 14th. They set an outperform rating and a $160.00 target price on the stock. Wells Fargo & Company lowered their target price on NIKE from $175.00 to $165.00 and set an overweight rating on the stock in a research note on Thursday, March 17th. Stifel Nicolaus lowered their target price on NIKE from $202.00 to $160.00 in a research note on Thursday, March 17th. StockNews.com started coverage on NIKE in a research note on Thursday, March 31st. They issued a hold rating for the company. Finally, The Goldman Sachs Group set a $177.00 price target on NIKE in a research note on Tuesday, March 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $171.52.

Shares of NKE opened at $112.94 on Monday. The business’s 50-day moving average price is $124.17 and its 200 day moving average price is $142.84. The stock has a market capitalization of $177.74 billion, a P/E ratio of 29.80, a P/E/G ratio of 2.05 and a beta of 0.95. NIKE has a 1-year low of $103.46 and a 1-year high of $179.10. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.64.

NIKE (NYSE:NKEGet Rating) last released its earnings results on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.14. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The company had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.61 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, research analysts predict that NIKE will post 3.71 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Monday, June 6th will be issued a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, June 3rd. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.08%. NIKE’s dividend payout ratio (DPR) is presently 32.19%.

Several hedge funds have recently modified their holdings of the company. Kestra Private Wealth Services LLC raised its stake in shares of NIKE by 2.9% in the first quarter. Kestra Private Wealth Services LLC now owns 64,843 shares of the footwear maker’s stock valued at $8,725,000 after purchasing an additional 1,849 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of NIKE by 19.4% in the first quarter. Ninety One UK Ltd now owns 3,296,197 shares of the footwear maker’s stock valued at $443,536,000 after purchasing an additional 536,123 shares in the last quarter. Midwest Wealth Management Inc. raised its stake in shares of NIKE by 2.5% in the first quarter. Midwest Wealth Management Inc. now owns 19,959 shares of the footwear maker’s stock valued at $2,686,000 after purchasing an additional 490 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of NIKE by 103.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,581 shares of the footwear maker’s stock valued at $347,000 after purchasing an additional 1,310 shares in the last quarter. Finally, L.M. Kohn & Company acquired a new position in shares of NIKE in the first quarter valued at $1,154,000. Institutional investors own 65.35% of the company’s stock.

About NIKE (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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