NIKE’s (NKE) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of NIKE (NYSE:NKE) in a research report report published on Friday morning, Benzinga reports. They currently have a $80.00 target price on the footwear maker’s stock.

NKE has been the topic of a number of other reports. Morgan Stanley reissued an equal weight rating and set a $79.00 price target on shares of NIKE in a research report on Friday. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Stifel Nicolaus cut their price objective on shares of NIKE from $88.00 to $79.00 and set a hold rating on the stock in a research report on Monday, August 26th. Bank of America cut their price objective on shares of NIKE from $113.00 to $104.00 and set a buy rating on the stock in a research report on Friday, June 28th. Finally, Citigroup cut their price objective on shares of NIKE from $115.00 to $102.00 and set a buy rating on the stock in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has a consensus rating of Moderate Buy and an average target price of $96.15.

NIKE Price Performance

NKE opened at $86.52 on Friday. The company has a fifty day moving average price of $78.11 and a two-hundred day moving average price of $86.99. The firm has a market capitalization of $130.59 billion, a PE ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. As a group, analysts anticipate that NIKE will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by company insiders.

Institutional Trading of NIKE

A number of institutional investors have recently bought and sold shares of NKE. 9258 Wealth Management LLC boosted its holdings in NIKE by 23.9% in the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after purchasing an additional 842 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of NIKE by 34.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after acquiring an additional 2,981 shares during the period. TrinityPoint Wealth LLC lifted its holdings in shares of NIKE by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock worth $2,341,000 after acquiring an additional 166 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of NIKE by 26.4% during the 4th quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock worth $66,000 after acquiring an additional 126 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of NIKE by 6.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock worth $13,767,000 after acquiring an additional 7,769 shares during the period. 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.