NIKE (NYSE:NKE) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of NIKE (NYSE:NKE) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $80.00 price objective on the footwear maker’s stock.

Several other equities research analysts have also issued reports on the company. Morgan Stanley lowered their price objective on NIKE from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Bank of America dropped their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Finally, BMO Capital Markets raised their price objective on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.54.

NIKE Trading Up 3.0 %

Shares of NIKE stock opened at $73.78 on Monday. The business’s fifty day moving average is $74.71 and its two-hundred day moving average is $77.71. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE has a fifty-two week low of $68.62 and a fifty-two week high of $101.92. The firm has a market cap of $109.13 billion, a PE ratio of 22.77, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the business earned $1.03 EPS. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. Analysts anticipate that NIKE will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NKE. JNBA Financial Advisors raised its holdings in NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after buying an additional 131 shares during the period. Frisch Financial Group Inc. raised its holdings in NIKE by 4.7% in the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after buying an additional 136 shares during the period. Nations Financial Group Inc. IA ADV raised its holdings in NIKE by 0.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after buying an additional 136 shares during the period. Elgethun Capital Management raised its holdings in NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after buying an additional 149 shares during the period. Finally, GAMMA Investing LLC raised its holdings in NIKE by 1.0% in the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after buying an additional 150 shares during the period. 64.25% of the stock is currently 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.