NIKE (NYSE:NKE) Earns Hold Rating from Stifel Nicolaus

Stifel Nicolaus reissued their hold rating on shares of NIKE (NYSE:NKE) in a research note published on Friday, Marketbeat.com reports. The firm currently has a $88.00 price target on the footwear maker’s stock, down from their previous price target of $117.00.

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group dropped their price target on shares of NIKE from $110.00 to $100.00 and set a hold rating on the stock in a research note on Friday, March 22nd. Oppenheimer reiterated an outperform rating and set a $120.00 target price on shares of NIKE in a research report on Friday. The Goldman Sachs Group reduced their price target on NIKE from $135.00 to $120.00 and set a buy rating for the company in a research report on Friday, March 22nd. Royal Bank of Canada reaffirmed a sector perform rating and set a $100.00 price objective (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Finally, Morgan Stanley reduced their target price on shares of NIKE from $116.00 to $114.00 and set an overweight rating for the company in a report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of Hold and an average price target of $98.96.

NIKE Trading Up 1.9 %

Shares of NYSE:NKE opened at $76.83 on Friday. The stock’s 50-day simple moving average is $93.28 and its two-hundred day simple moving average is $98.85. The stock has a market capitalization of $115.96 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.43 and a beta of 1.01. NIKE has a 52-week low of $74.29 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 issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 EPS. Analysts expect that NIKE will post 3.9 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction 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 owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 over the last 90 days. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NIKE

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the last quarter. Capital International Investors lifted its stake in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in NIKE by 87.5% during the 4th 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 acquiring an additional 7,996,434 shares during the period. Norges Bank bought a new position in NIKE in the 4th quarter valued at $1,315,097,000. Finally, Fisher Asset Management LLC grew its position in NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after acquiring an additional 219,091 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other 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.