JPMorgan Chase & Co. Reaffirms Neutral Rating for NIKE (NYSE:NKE)

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of NIKE (NYSE:NKE) in a report issued on Friday, Marketbeat Ratings reports. The firm currently has a $83.00 price target on the footwear maker’s stock, down from their prior price target of $116.00.

A number of other research analysts have also recently commented on NKE. Royal Bank of Canada restated a sector perform rating and set a $100.00 price objective (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Barclays reduced their price target on NIKE from $142.00 to $114.00 and set an overweight rating on the stock in a research report on Monday, March 25th. Stifel Nicolaus reaffirmed a hold rating and issued a $88.00 price objective (down previously from $117.00) on shares of NIKE in a research report on Friday. Deutsche Bank Aktiengesellschaft reissued a buy rating and set a $115.00 target price on shares of NIKE in a research report on Thursday, June 13th. Finally, TD Cowen lowered their price target on shares of NIKE from $89.00 to $75.00 and set a hold rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $98.96.

NIKE Stock Up 1.9 %

Shares of NYSE:NKE opened at $76.83 on Friday. NIKE has a 1 year low of $74.29 and a 1 year high of $123.39. The stock has a 50-day simple moving average of $93.28 and a 200-day simple moving average of $98.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market capitalization of $115.96 billion, a P/E ratio of 20.60, a PEG ratio of 1.43 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 earnings per share. Equities analysts forecast that NIKE will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, 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 transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NKE. Vanguard Group Inc. boosted its position in shares of NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after buying an additional 501,792 shares during the period. Capital International Investors raised its stake in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Norges Bank bought a new position in shares of NIKE in the fourth quarter worth $1,315,097,000. Finally, Fisher Asset Management LLC increased its holdings in shares of NIKE by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after purchasing an additional 219,091 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

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.