Piper Sandler Reiterates “Neutral” Rating for NIKE (NYSE:NKE)

Piper Sandler reissued their neutral rating on shares of NIKE (NYSE:NKE) in a research note published on Friday, Benzinga reports. Piper Sandler currently has a $80.00 price target on the footwear maker’s stock.

A number of other equities research analysts have also weighed in on NKE. UBS Group restated a neutral rating and set a $78.00 price objective on shares of NIKE in a research note on Friday, June 28th. Robert W. Baird raised their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an outperform rating in a research report on Friday. Morgan Stanley restated an equal weight rating and issued a $79.00 price target on shares of NIKE in a research note on Friday. Wedbush reduced their price objective on shares of NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a research note on Friday, June 28th. Finally, Truist Financial boosted their target price on shares of NIKE from $81.00 to $85.00 and gave the stock a hold rating in a research report on Friday. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $96.04.

NIKE Price Performance

Shares of NKE stock opened at $86.19 on Friday. The firm has a fifty day simple moving average of $78.40 and a 200-day simple moving average of $86.90. The company has a market capitalization of $130.08 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

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, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. Equities research analysts anticipate that NIKE will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed 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. This represents a $1.48 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was bought 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 owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, 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 sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NKE. Annapolis Financial Services LLC lifted its holdings in NIKE by 440.0% in the 1st 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 last quarter. True Wealth Design LLC raised its holdings in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in NIKE during the fourth quarter valued at approximately $33,000. Core Wealth Advisors Inc. boosted its holdings in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in NIKE in the fourth quarter worth approximately $36,000. Institutional investors 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.