By otakuyassine3@gmail.com 
NIKE (NYSE:NKE – Free Report) had its price target cut by Morgan Stanley from $72.00 to $70.00 in a research report released on Friday,Benzinga reports. They currently have an equal weight rating on the footwear maker’s stock.
NKE has been the topic of several other research reports. Truist Financial lowered their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Robert W. Baird reduced their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research report on Friday. China Renaissance initiated coverage on NIKE in a report on Wednesday, March 19th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus cut their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $87.38.
Get Our Latest Stock Analysis on NKE
NIKE Price Performance
NIKE stock opened at $68.02 on Friday. NIKE has a 12 month low of $65.17 and a 12 month high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business has a 50 day simple moving average of $74.70 and a 200-day simple moving average of $77.40. The stock has a market capitalization of $100.60 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.
NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities analysts predict that NIKE will post 2.05 earnings per share for the current year.
NIKE Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. NIKE’s dividend payout ratio is currently 53.16%.
Insider Activity at NIKE
In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Institutional Trading of NIKE
A number of hedge funds and other institutional investors have recently modified their holdings of NKE. Norges Bank acquired a new position in shares of NIKE in the 4th quarter worth $1,126,288,000. Wellington Management Group LLP grew its stake in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.
NIKE Company Profile
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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