NIKE (NYSE:NKE) PT Lowered to $81.00 at Truist Financial

NIKE (NYSE:NKE) had its target price lowered by Truist Financial from $99.00 to $81.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the footwear maker’s stock.

A number of other equities analysts have also recently commented on NKE. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $83.00 target price (down from $116.00) on shares of NIKE in a report on Friday. UBS Group reaffirmed a neutral rating and issued a $78.00 target price on shares of NIKE in a report on Friday. Bank of America raised NIKE from a neutral rating to a buy rating and raised their target price for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Sanford C. Bernstein decreased their target price on NIKE from $134.00 to $120.00 and set an outperform rating on the stock in a report on Friday, March 22nd. Finally, Raymond James reiterated a market perform rating on shares of NIKE in a research note on Friday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, NIKE currently has a consensus rating of Hold and an average target price of $98.96.

NIKE Price Performance

NYSE NKE opened at $76.83 on Friday. The business’s fifty day moving average price is $93.28 and its 200-day moving average price is $98.85. The stock has a market capitalization of $115.96 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE has a 1-year low of $74.29 and a 1-year high of $123.39.

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

NIKE Dividend Announcement

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

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,660 shares of company stock worth $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Institutional investors have recently added to or reduced their stakes in the company. Cim LLC bought a new stake in NIKE in the fourth quarter worth about $14,275,000. TKG Advisors LLC bought a new stake in NIKE in the fourth quarter worth about $1,012,000. Louisiana State Employees Retirement System bought a new stake in shares of NIKE during the fourth quarter valued at approximately $8,034,000. Financial Gravity Asset Management Inc. raised its stake in shares of NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after acquiring an additional 176,476 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of NIKE by 4.3% during the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after acquiring an additional 192,752 shares in the last quarter. 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.