JPMorgan Chase & Co. Reaffirms “Neutral” Rating for NIKE (NYSE:NKE)

JPMorgan Chase & Co. reissued their neutral rating on shares of NIKE (NYSE:NKE) in a report issued on Friday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a $83.00 price objective on the footwear maker’s stock, down from their prior price objective of $116.00.

Other analysts also recently issued research reports about the company. Truist Financial reaffirmed a hold rating and issued a $99.00 price objective on shares of NIKE in a research note on Thursday, June 20th. TD Cowen decreased their price target on shares of NIKE from $89.00 to $75.00 and set a hold rating on the stock in a research note on Friday. UBS Group reissued a neutral rating and issued a $78.00 price objective on shares of NIKE in a research note on Friday. Stifel Nicolaus restated a hold rating and set a $88.00 target price (down from $117.00) on shares of NIKE in a research report on Friday. Finally, Piper Sandler dropped their price target on NIKE from $107.00 to $98.00 and set a neutral rating for the company in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of Hold and a consensus price target of $98.96.

NIKE Stock Performance

NYSE:NKE opened at $75.37 on Friday. The stock has a 50-day moving average price of $93.28 and a 200 day moving average price of $98.85. The stock has a market capitalization of $113.76 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.43 and a beta of 1.05. NIKE has a 12-month low of $74.55 and a 12-month high of $123.39. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the firm posted $0.66 EPS. The company’s revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The transaction 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 stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Annapolis Financial Services LLC lifted its stake in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC raised its holdings in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE during the fourth quarter valued at about $29,000. True Wealth Design LLC boosted its holdings in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of NIKE in the 4th quarter worth approximately $33,000. 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.