NIKE (NYSE:NKE) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of NIKE (NYSE:NKEFree Report) from a hold rating to a buy rating in a research report released on Wednesday morning.

Several other research analysts also recently commented on the company. Telsey Advisory Group reduced their target price on NIKE from $140.00 to $120.00 and set an outperform rating on the stock in a report on Monday, March 18th. Royal Bank of Canada reissued a sector perform rating and issued a $100.00 target price (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Barclays reduced their target price on NIKE from $142.00 to $114.00 and set an overweight rating on the stock in a report on Monday, March 25th. Jefferies Financial Group reduced their target price on NIKE from $110.00 to $100.00 and set a hold rating on the stock in a report on Friday, March 22nd. Finally, Wedbush restated an outperform rating and issued a $115.00 price objective on shares of NIKE in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has a consensus rating of Moderate Buy and a consensus target price of $116.26.

Read Our Latest Analysis on NKE

NIKE Stock Up 0.4 %

NYSE NKE opened at $92.18 on Wednesday. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average is $94.00 and its two-hundred day moving average is $102.37. The company has a market capitalization of $139.13 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 1.77 and a beta of 1.07. NIKE has a 1-year low of $88.66 and a 1-year high of $123.39.

NIKE (NYSE:NKEGet Free Report) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Equities analysts forecast that NIKE will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is currently 43.53%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Oliver Luxxe Assets LLC boosted its stake in shares of NIKE by 2.9% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after buying an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of NIKE during the 4th quarter worth about $8,034,000. Financial Gravity Asset Management Inc. boosted its stake in shares of NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after buying an additional 176,476 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of NIKE by 10,184.3% during the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after buying an additional 384,357 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its stake in shares of NIKE by 55.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after buying an additional 69,363 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for NIKE (NYSE:NKE)

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