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

NIKE (NYSE:NKE)‘s stock had its “market perform” rating reiterated by equities researchers at Raymond James in a report released on Friday, Marketbeat reports.

NKE has been the topic of a number of other research reports. Barclays lowered their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Wedbush lowered their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday. Robert W. Baird lowered their price objective on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday. Piper Sandler lowered their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $79.00 price target (down previously from $114.00) on shares of NIKE in a research report on Friday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Hold” and a consensus price target of $104.56.

NIKE Trading Up 0.2 %

NYSE:NKE opened at $94.23 on Friday. The company has a market cap of $142.22 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.79 and a beta of 1.05. The stock’s fifty day moving average price is $93.70 and its two-hundred day moving average price is $99.48. NIKE has a 1 year low of $88.66 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

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

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Johanna Nielsen sold 282 shares of NIKE 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 directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the last quarter. Capital International Investors grew its holdings in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Norges Bank purchased a new position in NIKE in the fourth quarter worth $1,315,097,000. Finally, Fisher Asset Management LLC lifted its stake in shares of 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 buying an additional 219,091 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.