NIKE’s (NKE) Hold Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of NIKE (NYSE:NKE) in a research report sent to investors on Friday morning, Marketbeat reports. The brokerage currently has a $88.00 target price on the footwear maker’s stock, down from their prior target price of $117.00.

Other equities analysts have also issued research reports about the company. TD Cowen lowered their price target on NIKE from $89.00 to $75.00 and set a hold rating for the company in a research report on Friday. Wedbush restated an outperform rating and issued a $115.00 price objective on shares of NIKE in a report on Tuesday, April 30th. Evercore ISI cut their target price on NIKE from $110.00 to $105.00 and set an outperform rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered their price target on NIKE from $122.00 to $116.00 and set an overweight rating on the stock in a report on Thursday, June 20th. Finally, Citigroup reduced their price objective on NIKE from $135.00 to $125.00 and set a buy rating for the company in a report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, NIKE 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 firm has a market capitalization of $113.75 billion, a P/E ratio of 20.20, a PEG ratio of 1.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE has a one year low of $74.55 and a one year high of $123.39. The company’s 50-day simple moving average is $93.28 and its 200 day simple moving average is $99.15.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the firm posted $0.66 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts forecast that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Announces Dividend

The company 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 $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. 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 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, EVP Monique S. Matheson sold 45,000 shares of the company’s 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 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. 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 Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently modified their holdings of NKE. Sherbrooke Park Advisers LLC purchased a new position in NIKE during the third quarter valued at $432,000. United Services Automobile Association boosted its stake in NIKE by 18.1% during the third quarter. United Services Automobile Association now owns 33,626 shares of the footwear maker’s stock valued at $3,215,000 after buying an additional 5,165 shares during the last quarter. Kidder Stephen W increased its stake in NIKE by 5.3% in the 3rd quarter. Kidder Stephen W now owns 36,552 shares of the footwear maker’s stock worth $3,495,000 after acquiring an additional 1,850 shares during the last quarter. Gateway Advisory LLC purchased a new stake in shares of NIKE during the 3rd quarter worth approximately $583,000. Finally, Quadrature Capital Ltd boosted its position in shares of NIKE by 80.9% during the 3rd quarter. Quadrature Capital Ltd now owns 1,066,172 shares of the footwear maker’s stock valued at $101,969,000 after acquiring an additional 476,837 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

About NIKE

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.