NIKE (NYSE:NKE) Receives Sector Weight Rating from KeyCorp

KeyCorp restated their sector weight rating on shares of NIKE (NYSE:NKE) in a research note issued to investors on Friday, Benzinga reports.

A number of other analysts have also recently weighed in on NKE. Wedbush dropped their price target on NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a research report on Friday. Telsey Advisory Group dropped their price target on NIKE from $115.00 to $100.00 and set an outperform rating on the stock in a research report on Friday. Barclays cut NIKE from an overweight rating to an equal weight rating and dropped their price target for the stock from $109.00 to $80.00 in a research report on Friday. BMO Capital Markets lowered their target price on NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research report on Friday. Finally, Stifel Nicolaus restated a hold rating and issued a $88.00 target price (down from $117.00) on shares of NIKE in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $98.96.

NIKE Trading Down 20.0 %

NYSE:NKE opened at $75.36 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $93.28 and its two-hundred day moving average is $99.15. NIKE has a 52 week low of $74.55 and a 52 week high of $123.39. The company has a market cap of $113.75 billion, a PE ratio of 20.20, a P/E/G ratio of 1.79 and a beta of 1.05.

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 business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. On average, analysts predict that NIKE will post 3.9 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other 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 transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Johanna Nielsen sold 282 shares of NIKE 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 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 a total of 213,660 shares of company stock valued at $19,946,333 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in NIKE during the fourth quarter valued at $1,315,097,000. Price T Rowe Associates Inc. MD boosted its position in NIKE by 87.5% during 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 last quarter. Capital International Investors boosted its position in NIKE by 34.9% during 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 last quarter. Longview Partners Guernsey LTD acquired a new stake in NIKE during the first quarter valued at $533,533,000. Finally, Capital World Investors boosted its position in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares during the last quarter. 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.