NIKE (NYSE:NKE) Rating Reiterated by JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of NIKE (NYSE:NKE) in a research report sent to investors on Friday morning, MarketBeat.com reports. The firm currently has a $83.00 target price on the footwear maker’s stock, down from their previous target price of $116.00.

NKE has been the subject of a number of other research reports. Wedbush decreased their target price on shares of NIKE from $115.00 to $97.00 and set an outperform rating for the company in a research report on Friday. TD Cowen decreased their price objective on NIKE from $89.00 to $75.00 and set a hold rating for the company in a report on Friday. Morgan Stanley reiterated an equal weight rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a report on Friday. The Goldman Sachs Group decreased their price target on NIKE from $135.00 to $120.00 and set a buy rating for the company in a research note on Friday, March 22nd. Finally, Truist Financial reiterated a hold rating and set a $99.00 price objective on shares of NIKE in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $98.96.

NIKE Stock Up 1.9 %

NKE stock opened at $76.83 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 stock has a market capitalization of $115.96 billion, a P/E ratio of 20.60, a P/E/G ratio of 1.43 and a beta of 1.01. NIKE has a fifty-two week low of $74.29 and a fifty-two week high of $123.39. The business has a 50-day moving average of $93.28 and a 200-day moving average of $98.85.

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

NIKE Dividend Announcement

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

Insiders Place Their Bets

In other NIKE news, VP Johanna Nielsen sold 282 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, 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. Insiders sold 213,660 shares of company stock worth $19,946,333 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after purchasing an additional 501,792 shares in the last quarter. Capital International Investors lifted its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares in the last quarter. Norges Bank bought a new position in NIKE in the fourth quarter valued at about $1,315,097,000. Finally, Fisher Asset Management LLC raised its stake in NIKE by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after acquiring an additional 219,091 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.