NIKE (NYSE:NKE) Earns Neutral Rating from UBS Group

UBS Group reaffirmed their neutral rating on shares of NIKE (NYSE:NKE) in a report released on Friday morning, Marketbeat.com reports. UBS Group currently has a $78.00 target price on the footwear maker’s stock.

Several other equities research analysts also recently weighed in on the stock. Robert W. Baird reduced their price target on shares of NIKE from $125.00 to $100.00 and set an outperform rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft restated a buy rating and set a $115.00 target price on shares of NIKE in a research report on Thursday, June 13th. Truist Financial reaffirmed a hold rating and issued a $99.00 price objective on shares of NIKE in a research note on Thursday, June 20th. StockNews.com cut shares of NIKE from a buy rating to a hold rating in a research note on Friday, June 21st. Finally, TD Cowen cut their price objective on shares of NIKE from $89.00 to $75.00 and set a hold rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $98.96.

NIKE Price Performance

NKE stock opened at $75.37 on Friday. NIKE has a 1 year low of $74.55 and a 1 year high of $123.39. The company has a market cap of $113.76 billion, a P/E ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05. The firm has a 50-day moving average of $93.28 and a 200 day moving average of $98.85. 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 (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the company posted $0.66 EPS. NIKE’s revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts forecast that NIKE will post 3.9 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

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

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBW Capital LLC raised its position in NIKE by 0.9% during the 1st quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock worth $4,468,000 after buying an additional 431 shares during the last quarter. IMS Capital Management grew its position in shares of NIKE by 2.7% during the 1st quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock valued at $2,127,000 after acquiring an additional 589 shares during the period. American Trust increased its position in shares of NIKE by 9.5% in the first quarter. American Trust now owns 44,107 shares of the footwear maker’s stock valued at $4,145,000 after buying an additional 3,833 shares in the last quarter. Portland Hill Asset Management Ltd acquired a new position in NIKE during the first quarter worth $958,000. Finally, Soltis Investment Advisors LLC lifted its stake 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 in the last quarter. Institutional investors and hedge funds 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.