NIKE’s (NKE) “Market Perform” Rating Reiterated at Raymond James

NIKE (NYSE:NKE)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Raymond James in a note issued to investors on Friday, MarketBeat reports.

NKE has been the subject of a number of other reports. Jefferies Financial Group reduced their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and set a $99.00 price objective on shares of NIKE in a research note on Thursday, June 20th. The Goldman Sachs Group reduced their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Williams Trading reaffirmed a “sell” rating and set a $85.00 price objective (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Finally, Robert W. Baird decreased their price target on shares of NIKE from $125.00 to $100.00 and set an “outperform” 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 company’s stock. According to MarketBeat, NIKE presently has a consensus rating of “Hold” and a consensus price target of $104.56.

NIKE Stock Performance

NKE stock opened at $94.23 on Friday. The company has a market capitalization of $142.22 billion, a P/E ratio of 27.71, a PEG ratio of 1.79 and a beta of 1.05. The company has a 50-day simple moving average of $93.70 and a 200 day simple moving average of $99.48. NIKE has a fifty-two week low of $88.66 and a fifty-two week high of $123.39. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts predict that NIKE will post 3.81 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In other news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently bought and sold shares of the business. Piscataqua Savings Bank grew its position in shares of NIKE by 2.1% in the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after purchasing an additional 100 shares during the period. Physicians Financial Services Inc. grew its position in shares of NIKE by 0.6% in the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after purchasing an additional 100 shares during the period. ZWJ Investment Counsel Inc. grew its position in shares of NIKE by 4.0% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after purchasing an additional 100 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after acquiring an additional 100 shares during the last quarter. Finally, Claro Advisors LLC boosted its position in NIKE by 0.8% during the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after acquiring an additional 101 shares during the last quarter. 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.