NIKE (NYSE:NKE) Stock Rating Lowered by Barclays

Barclays cut shares of NIKE (NYSE:NKE) from an overweight rating to an equal weight rating in a report released on Friday, MarketBeat Ratings reports. They currently have $80.00 price objective on the footwear maker’s stock, down from their previous price objective of $109.00.

A number of other equities analysts have also weighed in on the stock. Evercore ISI decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an outperform rating for the company in a report on Friday. Citigroup decreased their price target on NIKE from $135.00 to $125.00 and set a buy rating for the company in a research note on Thursday, March 14th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $115.00 price objective on shares of NIKE in a research report on Thursday, June 13th. UBS Group reissued a neutral rating and issued a $78.00 target price on shares of NIKE in a research report on Friday. Finally, Truist Financial reaffirmed a hold rating and set a $99.00 price target on shares of NIKE in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $98.96.

NIKE Price Performance

Shares of NYSE:NKE opened at $76.83 on Friday. The business has a fifty day moving average price of $93.28 and a 200-day moving average price of $98.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a market capitalization of $115.96 billion, a PE ratio of 20.60, a PEG ratio of 1.43 and a beta of 1.01. NIKE has a 1-year low of $74.29 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. As a group, equities analysts expect that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.93%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity

In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

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