NIKE (NYSE:NKE) Rating Reiterated by Raymond James

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

NKE has been the subject of a number of other research reports. Jefferies Financial Group lowered their target price on NIKE from $110.00 to $100.00 and set a hold rating for the company in a research note on Friday, March 22nd. The Goldman Sachs Group lowered their price objective on shares of NIKE from $135.00 to $120.00 and set a buy rating for the company in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft reissued a buy rating and set a $115.00 target price on shares of NIKE in a research report on Thursday, June 13th. Barclays lowered their price target on shares of NIKE from $142.00 to $114.00 and set an overweight rating for the company in a report on Monday, March 25th. Finally, StockNews.com downgraded shares of NIKE from a buy rating to a hold rating in a research note on Friday, June 21st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $98.96.

NIKE Price Performance

NKE opened at $76.83 on Friday. NIKE has a 52-week low of $74.29 and a 52-week high of $123.39. The company has a 50 day moving average of $93.28 and a two-hundred day moving average of $98.85. The company has a market cap of $115.96 billion, a P/E ratio of 20.60, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the prior year, the company earned $0.66 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. On average, analysts expect that NIKE will post 3.9 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.93%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity

In related news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the period. Iron Horse Wealth Management LLC raised its stake in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new position in NIKE during the 4th quarter worth $29,000. True Wealth Design LLC grew its stake in shares of NIKE by 106.4% in the fourth 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 position in shares of NIKE during the fourth quarter valued at $33,000. 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.