NIKE (NYSE:NKE) Receives Buy Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of NIKE (NYSE:NKE) in a research report report published on Wednesday,Benzinga reports. Guggenheim currently has a $110.00 price target on the footwear maker’s stock.

Several other brokerages have also recently commented on NKE. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of NIKE in a research note on Friday, February 7th. Truist Financial cut their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada dropped their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Robert W. Baird lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Price Performance

Shares of NYSE NKE opened at $73.02 on Wednesday. NIKE has a fifty-two week low of $68.62 and a fifty-two week high of $107.34. The firm’s 50-day simple moving average is $74.58 and its 200 day simple moving average is $78.00. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $108.00 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. Equities analysts expect that NIKE will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently modified their holdings of NKE. CX Institutional purchased a new stake in shares of NIKE during the third quarter valued at approximately $5,195,000. Zhang Financial LLC purchased a new stake in NIKE in the third quarter worth $740,000. Swedbank AB increased its position in NIKE by 1.2% in the third quarter. Swedbank AB now owns 980,660 shares of the footwear maker’s stock worth $86,690,000 after buying an additional 11,877 shares during the last quarter. Petredis Investment Advisors LLC increased its position in NIKE by 1.7% in the third quarter. Petredis Investment Advisors LLC now owns 17,964 shares of the footwear maker’s stock worth $1,588,000 after buying an additional 302 shares during the last quarter. Finally, Regatta Capital Group LLC increased its position in NIKE by 4.0% in the third quarter. Regatta Capital Group LLC now owns 30,902 shares of the footwear maker’s stock worth $2,732,000 after buying an additional 1,180 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.