NIKE (NYSE:NKE) Downgraded by StockNews.com

StockNews.com downgraded shares of NIKE (NYSE:NKEFree Report) from a buy rating to a hold rating in a research note released on Friday.

Several other equities analysts have also weighed in on NKE. Stifel Nicolaus reduced their target price on shares of NIKE from $129.00 to $117.00 and set a buy rating on the stock in a report on Friday, March 22nd. Bank of America upgraded NIKE from a neutral rating to a buy rating and raised their price objective for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Telsey Advisory Group dropped their price target on shares of NIKE from $140.00 to $120.00 and set an outperform rating for the company in a research note on Monday, March 18th. Sanford C. Bernstein decreased their price objective on shares of NIKE from $134.00 to $120.00 and set an outperform rating for the company in a report on Friday, March 22nd. Finally, Truist Financial reaffirmed a hold rating and set a $99.00 price target on shares of NIKE in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of Moderate Buy and an average price target of $114.81.

Read Our Latest Analysis on NKE

NIKE Stock Performance

NIKE stock opened at $97.18 on Friday. 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 12 month low of $88.66 and a 12 month high of $123.39. The company has a market cap of $146.68 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05. The stock’s 50-day moving average is $93.60 and its 200-day moving average is $99.79.

NIKE (NYSE:NKEGet Free Report) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. Equities analysts anticipate that NIKE will post 3.76 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.52%. NIKE’s payout ratio is presently 43.53%.

Insider Buying and Selling

In other news, VP Johanna Nielsen sold 282 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. Insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently bought and sold shares of the business. NBW Capital LLC boosted its stake in shares of NIKE by 0.9% in the first quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock valued at $4,468,000 after buying an additional 431 shares during the period. IMS Capital Management raised its stake in NIKE by 2.7% in the first quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock valued at $2,127,000 after purchasing an additional 589 shares in the last quarter. American Trust lifted its position in NIKE by 9.5% during the first quarter. American Trust now owns 44,107 shares of the footwear maker’s stock worth $4,145,000 after purchasing an additional 3,833 shares during the period. Portland Hill Asset Management Ltd bought a new stake in NIKE during the first quarter worth about $958,000. Finally, Soltis Investment Advisors LLC increased its holdings in NIKE by 62.6% in the 1st quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock valued at $2,675,000 after buying an additional 10,958 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

About NIKE

(Get Free Report)

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.

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Analyst Recommendations for NIKE (NYSE:NKE)

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