Morgan Stanley Reaffirms Equal Weight Rating for NIKE (NYSE:NKE)

Morgan Stanley reaffirmed their equal weight rating on shares of NIKE (NYSE:NKE) in a research report report published on Friday, Marketbeat reports. The brokerage currently has a $79.00 price objective on the footwear maker’s stock, down from their prior price objective of $114.00.

A number of other analysts have also weighed in on the company. StockNews.com lowered NIKE from a buy rating to a hold rating in a research note on Friday, June 21st. Robert W. Baird reduced their target price on shares of NIKE from $125.00 to $100.00 and set an outperform rating on the stock in a research report on Friday. Citigroup decreased their price target on shares of NIKE from $135.00 to $125.00 and set a buy rating on the stock in a research note on Thursday, March 14th. Truist Financial restated a hold rating and issued a $99.00 price objective on shares of NIKE in a research report on Thursday, June 20th. Finally, Williams Trading reiterated a sell rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $98.96.

NIKE Stock Performance

NIKE stock opened at $75.37 on Friday. The firm has a market capitalization of $113.76 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.43 and a beta of 1.05. The stock has a fifty day moving average price of $93.28 and a two-hundred day moving average price of $98.85. NIKE has a 52-week low of $74.55 and a 52-week 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, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.87%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, analysts anticipate that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Transactions at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Mark G. Parker sold 168,378 shares of the business’s 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 sale, 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 SEC, which is accessible through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock valued at $19,946,333 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC increased its position in shares of 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 acquiring an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC grew its stake in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new position in shares of NIKE during the 4th quarter worth approximately $29,000. True Wealth Design LLC raised its stake in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $33,000. 64.25% of the stock is owned by 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.