NIKE’s (NKE) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of NIKE (NYSE:NKE) in a research report released on Monday,Benzinga reports. The brokerage currently has a $80.00 price target on the footwear maker’s stock.

Several other analysts also recently weighed in on NKE. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Evercore ISI dropped their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $115.00 in a report on Monday, February 24th. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Finally, TD Cowen reduced their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $89.54.

NIKE Stock Down 0.5 %

Shares of NIKE stock opened at $72.92 on Monday. The stock has a market cap of $107.86 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 2.52 and a beta of 1.02. The firm’s 50-day moving average is $74.76 and its two-hundred day moving average is $77.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE has a 1 year low of $68.62 and a 1 year high of $101.92.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, research analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued 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 payout ratio is currently 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Trading of NIKE

Institutional investors have recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC lifted its position in shares of NIKE by 7.8% in the third quarter. OneDigital Investment Advisors LLC now owns 16,792 shares of the footwear maker’s stock valued at $1,484,000 after acquiring an additional 1,217 shares in the last quarter. Empowered Funds LLC boosted its position in NIKE by 10.7% during the 3rd quarter. Empowered Funds LLC now owns 23,214 shares of the footwear maker’s stock worth $2,052,000 after purchasing an additional 2,243 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of NIKE by 4.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock valued at $5,875,000 after buying an additional 2,843 shares during the period. TrinityPoint Wealth LLC boosted its holdings in NIKE by 9.2% in the 3rd quarter. TrinityPoint Wealth LLC now owns 28,561 shares of the footwear maker’s stock worth $2,525,000 after acquiring an additional 2,408 shares during the period. Finally, Prudent Man Advisors LLC raised its stake in shares of NIKE by 42.0% during the third quarter. Prudent Man Advisors LLC now owns 8,594 shares of the footwear maker’s stock valued at $760,000 after purchasing an additional 2,544 shares during the period. Hedge funds and other 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.