NIKE’s (NKE) “Hold” Rating Reiterated at Truist Financial

Truist Financial reiterated their hold rating on shares of NIKE (NYSE:NKE) in a research note released on Thursday, Benzinga reports. They currently have a $99.00 price target on the footwear maker’s stock.

Other equities research analysts have also issued research reports about the company. Bank of America raised NIKE from a neutral rating to a buy rating and boosted their target price for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Wells Fargo & Company lowered their price target on NIKE from $120.00 to $115.00 and set an overweight rating for the company in a research report on Monday, June 10th. Robert W. Baird lowered their price target on NIKE from $140.00 to $125.00 and set an outperform rating for the company in a research report on Friday, March 22nd. Williams Trading reaffirmed a sell rating and set a $85.00 price target (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Finally, StockNews.com raised NIKE from a hold rating to a buy rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $114.81.

NIKE Price Performance

Shares of NYSE NKE opened at $97.18 on Thursday. NIKE has a fifty-two week low of $88.66 and a fifty-two week high of $123.39. The stock has a fifty day moving average of $93.60 and a 200-day moving average of $99.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock has a market cap of $146.68 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Equities research analysts anticipate that NIKE will post 3.76 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 43.53%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was 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 of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated 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 owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in NIKE during the fourth quarter worth approximately $1,315,097,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Capital International Investors boosted its holdings in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE in the first quarter valued at approximately $533,533,000. Finally, Capital World Investors lifted its holdings in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares during the period. 64.25% of the stock is owned by institutional investors.

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.