NIKE (NYSE:NKE) Stock Rating Reaffirmed by Bank of America

Bank of America restated their buy rating on shares of NIKE (NYSE:NKE) in a research note released on Monday, Benzinga reports. They currently have a $104.00 target price on the footwear maker’s stock.

Other analysts also recently issued research reports about the company. Piper Sandler restated a neutral rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Williams Trading raised NIKE from a sell rating to a buy rating and lifted their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Royal Bank of Canada lowered their target price on NIKE from $100.00 to $75.00 and set a sector perform rating on the stock in a research note on Tuesday, July 2nd. Evercore ISI lifted their target price on NIKE from $105.00 to $110.00 and gave the company an outperform rating in a research note on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $92.00 target price on shares of NIKE in a research note on Friday, September 20th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of Moderate Buy and an average price target of $96.52.

NIKE Price Performance

NYSE NKE opened at $89.39 on Monday. The stock’s 50-day moving average price is $79.00 and its two-hundred day moving average price is $86.83. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company has a market cap of $134.92 billion, a PE ratio of 24.08, a PEG ratio of 2.30 and a beta of 1.02. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last posted 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 firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. On average, analysts predict that NIKE will post 3.04 EPS for the current year.

NIKE Dividend Announcement

The business 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 is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.66%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling

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

Institutional Investors Weigh In On NIKE

Hedge funds have recently modified their holdings of the business. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC boosted its position 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 acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC bought a new position in NIKE in the fourth quarter worth $33,000. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the period. Finally, Gold Investment Management Ltd. bought a new position in NIKE in the fourth quarter worth $36,000. 64.25% of the stock is owned by institutional investors.

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.