NIKE’s (NKE) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of NIKE (NYSE:NKE) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $100.00 price target on the footwear maker’s stock.

A number of other equities analysts also recently weighed in on the company. Truist Financial set a $69.00 price target on NIKE in a research report on Wednesday, January 14th. Wells Fargo & Company set a $65.00 target price on NIKE and gave the stock an “overweight” rating in a research note on Friday, December 19th. JPMorgan Chase & Co. decreased their target price on NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Piper Sandler set a $75.00 price target on NIKE and gave the company an “overweight” rating in a research note on Friday, December 19th. Finally, Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.65.

NIKE Stock Performance

NYSE NKE opened at $62.59 on Tuesday. The firm has a market capitalization of $92.66 billion, a P/E ratio of 36.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.28. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average price is $63.98 and its two-hundred day moving average price is $68.77. NIKE has a 1 year low of $52.28 and a 1 year high of $82.44.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. As a group, research analysts anticipate that NIKE will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a dividend of $0.41 per share. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, December 1st. NIKE’s payout ratio is 96.47%.

Insider Buying and Selling

In other NIKE news, Director Timothy D. Cook purchased 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average cost of $58.97 per share, for a total transaction of $2,948,500.00. Following the completion of the purchase, the director owned 105,480 shares of the company’s stock, valued at approximately $6,220,155.60. The trade was a 90.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Elliott Hill purchased 16,388 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the transaction, the chief executive officer owned 241,587 shares of the company’s stock, valued at $14,760,965.70. This trade represents a 7.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 91,229 shares of company stock valued at $5,452,640 in the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Institutional investors have recently made changes to their positions in the stock. Mascoma Wealth Management LLC acquired a new position in NIKE in the 2nd quarter valued at $26,000. Halbert Hargrove Global Advisors LLC increased its position in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of NIKE in the second quarter worth $31,000. Guerra Advisors Inc acquired a new position in NIKE in the third quarter valued at about $34,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in NIKE during the third quarter worth about $35,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).