NIKE (NYSE:NKE) Downgraded by Daiwa America to Hold

NIKE (NYSE:NKE) was downgraded by Daiwa America from a “moderate buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

Other research analysts also recently issued research reports about the company. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Wedbush decreased their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Evercore ISI lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. UBS Group restated a “neutral” rating and set a $78.00 target price on shares of NIKE in a research report on Friday, June 28th. Finally, KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE Price Performance

Shares of NKE stock opened at $79.01 on Wednesday. The stock’s fifty day moving average is $77.23 and its 200-day moving average is $87.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market capitalization of $118.46 billion, a PE ratio of 21.18, a PEG ratio of 2.08 and a beta of 1.02. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the company posted $0.66 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts expect that NIKE will post 3.06 EPS for the current fiscal year.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NIKE

Several hedge funds and other institutional investors have recently made changes to their positions in NKE. Vanguard Group Inc. lifted its stake in NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares during the last quarter. Capital International Investors raised its holdings in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Norges Bank bought a new position in NIKE during the fourth quarter worth about $1,315,097,000. Finally, Legal & General Group Plc increased its position in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the last quarter. 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.