NIKE (NYSE:NKE) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of NIKE (NYSE:NKE – Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Several other research firms have also commented on NKE. Evercore ISI cut their target price on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. Sanford C. Bernstein reissued an “outperform” rating on shares of NIKE in a research note on Monday, August 18th. Robert W. Baird increased their target price on shares of NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, June 27th. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, June 27th. Finally, Royal Bank Of Canada cut their target price on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.22.

View Our Latest Stock Analysis on NKE

NIKE Price Performance

NYSE NKE opened at $74.18 on Friday. The company has a 50-day moving average price of $75.54 and a two-hundred day moving average price of $67.83. The stock has a market cap of $109.55 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. NIKE has a 52 week low of $52.28 and a 52 week high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the business posted $0.99 EPS. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. Analysts forecast that NIKE will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE’s dividend payout ratio is 74.07%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in NIKE by 18.8% in the 2nd quarter. Osaic Holdings Inc. now owns 353,004 shares of the footwear maker’s stock worth $25,031,000 after buying an additional 55,769 shares in the last quarter. American Trust lifted its position in NIKE by 1.3% in the 2nd quarter. American Trust now owns 30,216 shares of the footwear maker’s stock worth $2,147,000 after buying an additional 381 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in NIKE by 201.2% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 10,718 shares of the footwear maker’s stock worth $765,000 after buying an additional 7,159 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in NIKE in the 2nd quarter worth approximately $4,095,000. Finally, Stance Capital LLC purchased a new stake in NIKE in the 2nd quarter worth approximately $1,511,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

About NIKE

(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.

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