Raymond James Reaffirms “Market Perform” Rating for NIKE (NYSE:NKE)

Raymond James reissued their market perform rating on shares of NIKE (NYSE:NKE) in a research report released on Friday, Marketbeat reports.

A number of other brokerages have also recently issued reports on NKE. Barclays dropped their price objective on NIKE from $142.00 to $114.00 and set an overweight rating on the stock in a report on Monday, March 25th. JPMorgan Chase & Co. reissued a neutral rating and issued a $83.00 price target (down from $116.00) on shares of NIKE in a report on Friday. TD Cowen reduced their price objective on shares of NIKE from $89.00 to $75.00 and set a hold rating for the company in a research note on Friday. Evercore ISI decreased their target price on shares of NIKE from $110.00 to $105.00 and set an outperform rating on the stock in a report on Friday. Finally, Williams Trading reissued a sell rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a report on Monday, March 18th. 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, the stock currently has a consensus rating of Hold and an average price target of $98.96.

NIKE Price Performance

NKE opened at $75.37 on Friday. The firm has a 50-day moving average price of $93.28 and a 200-day moving average price of $98.85. NIKE has a twelve month low of $74.55 and a twelve month 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 company has a market capitalization of $113.76 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05.

NIKE (NYSE:NKE) last released 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. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the business earned $0.66 EPS. NIKE’s revenue was down 1.6% compared to the same quarter last year. Equities analysts expect that NIKE will post 3.9 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling

In other NIKE news, 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 in the company, valued at $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on 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 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock worth $19,946,333 in the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. NBW Capital LLC grew its position in shares of NIKE by 0.9% in the 1st quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock worth $4,468,000 after buying an additional 431 shares during the last quarter. IMS Capital Management lifted its stake in NIKE by 2.7% in the first quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock worth $2,127,000 after acquiring an additional 589 shares during the period. American Trust lifted its stake in NIKE by 9.5% in the first quarter. American Trust now owns 44,107 shares of the footwear maker’s stock worth $4,145,000 after acquiring an additional 3,833 shares during the period. Portland Hill Asset Management Ltd bought a new stake in NIKE in the first quarter valued at $958,000. Finally, Soltis Investment Advisors LLC increased its position in NIKE by 62.6% during the 1st quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock valued at $2,675,000 after purchasing an additional 10,958 shares during the period. 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.