NIKE’s (NKE) “Neutral” Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their neutral rating on shares of NIKE (NYSE:NKE) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $80.00 price target on the footwear maker’s stock.

NKE has been the subject of a number of other reports. Citigroup decreased their price objective on NIKE from $115.00 to $102.00 and set a buy rating for the company in a research report on Friday, June 28th. TD Cowen lowered their price objective on shares of NIKE from $75.00 to $71.00 and set a hold rating on the stock in a research report on Thursday, July 25th. Oppenheimer reiterated an outperform rating and issued a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. Stifel Nicolaus decreased their target price on shares of NIKE from $88.00 to $79.00 and set a hold rating for the company in a research note on Monday, August 26th. Finally, Wedbush dropped their price target on shares of NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $96.04.

NIKE Stock Down 0.4 %

NKE stock opened at $86.19 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a market capitalization of $130.08 billion, a P/E ratio of 23.11, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The company’s 50 day simple moving average is $78.40 and its 200-day simple moving average is $86.90.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 EPS. As a group, equities research analysts anticipate that NIKE will post 3.06 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.72%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Annapolis Financial Services LLC grew its position in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the last quarter. True Wealth Design LLC lifted its stake 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 valued at $32,000 after buying an additional 150 shares during the period. Core Wealth Advisors Inc. lifted its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in NIKE during the fourth quarter worth about $33,000. Finally, Gold Investment Management Ltd. bought a new position in NIKE during the fourth quarter valued at about $36,000. Institutional investors own 64.25% of the company’s stock.

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.