NIKE’s (NKE) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of NIKE (NYSE:NKE) in a report published on Friday morning, Marketbeat Ratings reports. They currently have a $83.00 target price on the footwear maker’s stock, down from their previous target price of $116.00.

Several other brokerages have also commented on NKE. Piper Sandler cut their target price on NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a research report on Friday, March 22nd. StockNews.com lowered NIKE from a buy rating to a hold rating in a research report on Friday, June 21st. Telsey Advisory Group cut their target price on NIKE from $115.00 to $100.00 and set an outperform rating on the stock in a research report on Friday. Truist Financial restated a hold rating and set a $99.00 target price on shares of NIKE in a research report on Thursday, June 20th. Finally, Morgan Stanley restated an equal weight rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a research report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock 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 business’s 50-day moving average price is $93.28 and its two-hundred day moving average price is $99.15. NIKE has a 12 month low of $74.55 and a 12 month high of $123.39. The firm has a market capitalization of $113.75 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. 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 released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating 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 analyst estimates of $12.86 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The business’s revenue was down 1.6% on a year-over-year basis. On average, analysts expect that NIKE will post 3.9 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the 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 transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the 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 directly owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of NKE. Annapolis Financial Services LLC grew its holdings in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the period. Iron Horse Wealth Management LLC boosted its holdings in shares of 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 acquiring an additional 140 shares during the period. Planned Solutions Inc. bought a new position in shares of NIKE in the fourth quarter worth $29,000. True Wealth Design LLC boosted its holdings in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC bought a new position in shares of NIKE in the fourth quarter worth $33,000. 64.25% of the stock is owned by institutional investors.

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.