NIKE (NYSE:NKE) Raised to Buy at Truist Financial

Truist Financial upgraded shares of NIKE (NYSE:NKE) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, MarketBeat.com reports. The firm currently has $97.00 price target on the footwear maker’s stock, up from their previous price target of $83.00.

NKE has been the topic of several other reports. Williams Trading upgraded shares of NIKE from a sell rating to a buy rating and raised their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. HSBC decreased their price target on shares of NIKE from $100.00 to $90.00 and set a hold rating on the stock in a research report on Friday, June 28th. Sanford C. Bernstein reduced their price objective on shares of NIKE from $112.00 to $109.00 and set an outperform rating for the company in a report on Thursday, September 19th. Raymond James reaffirmed a market perform rating on shares of NIKE in a report on Friday, June 28th. Finally, Jefferies Financial Group raised their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a hold rating in a report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $96.56.

NIKE Stock Performance

Shares of NKE opened at $82.15 on Thursday. The company’s fifty day moving average is $81.66 and its 200-day moving average is $85.64. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market cap of $123.99 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.94 EPS. Equities analysts expect that NIKE will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on 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 sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Kampmann Melissa S. grew its holdings in NIKE by 0.8% during the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after purchasing an additional 115 shares during the period. Ascent Wealth Partners LLC grew its holdings in NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after purchasing an additional 115 shares during the period. Condor Capital Management grew its holdings in NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares during the period. Bell Investment Advisors Inc grew its holdings in NIKE by 4.7% during the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 118 shares during the period. Finally, Lodestone Wealth Management LLC grew its holdings in NIKE by 5.5% during the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds 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.