Truist Financial Reaffirms “Hold” Rating for NIKE (NYSE:NKE)

Truist Financial reissued their hold rating on shares of NIKE (NYSE:NKE) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $99.00 price objective on the footwear maker’s stock.

NKE has been the subject of several other research 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 report on Friday, March 22nd. UBS Group cut their target price on NIKE from $138.00 to $125.00 and set a buy rating on the stock in a report on Friday, March 22nd. Wells Fargo & Company cut their target price on NIKE from $120.00 to $115.00 and set an overweight rating on the stock in a report on Monday, June 10th. Piper Sandler cut their target price on NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a report on Friday, March 22nd. Finally, Barclays cut their target price on NIKE from $142.00 to $114.00 and set an overweight rating on the stock in a report on Monday, March 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has an average rating of Moderate Buy and an average target price of $114.81.

NIKE Stock Performance

Shares of NKE stock opened at $97.18 on Thursday. The company has a market cap of $146.68 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05. NIKE has a 52 week low of $88.66 and a 52 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. The firm has a 50 day moving average of $93.60 and a 200-day moving average of $99.91.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, equities analysts forecast that NIKE will post 3.76 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 43.53%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 168,378 shares of the business’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 transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now 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 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of NIKE

Hedge funds have recently bought and sold shares of the company. Iron Horse Wealth Management LLC lifted its position in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Annapolis Financial Services LLC lifted its position in 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 purchasing an additional 220 shares during the last quarter. Planned Solutions Inc. bought a new stake in NIKE in the fourth quarter valued at approximately $29,000. True Wealth Design LLC lifted its position in 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 purchasing an additional 150 shares during the last quarter. Finally, 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 valued at $33,000 after purchasing an additional 241 shares during 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.