NIKE (NYSE:NKE) Upgraded by Truist Financial to “Buy”

Truist Financial upgraded shares of NIKE (NYSE:NKE) from a hold rating to a buy rating in a research note published on Thursday morning, Marketbeat reports. They currently have $97.00 price objective on the footwear maker’s stock, up from their previous price objective of $83.00.

Several other equities research analysts have also issued reports on NKE. Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a hold rating for the company in a research report on Monday, August 26th. Daiwa America lowered shares of NIKE from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. KeyCorp reissued a sector weight rating on shares of NIKE in a research report on Friday, June 28th. HSBC dropped their price objective on shares of NIKE from $100.00 to $90.00 and set a hold rating for the company in a research report on Friday, June 28th. Finally, Bank of America dropped their price objective on shares of NIKE from $104.00 to $100.00 and set a buy rating for the company in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, NIKE currently has an average rating of Moderate Buy and a consensus price target of $96.56.

NIKE Trading Down 0.3 %

Shares of NYSE:NKE traded down $0.27 during trading on Thursday, reaching $81.83. The stock had a trading volume of 2,714,629 shares, compared to its average volume of 11,715,804. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average price of $81.49 and a 200-day moving average price of $85.77. The stock has a market cap of $122.69 billion, a P/E ratio of 23.53, a PEG ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, analysts anticipate that NIKE will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.81%. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’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 sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently added to or reduced their stakes in NKE. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 501,792 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of NIKE by 87.5% in the fourth 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 buying an additional 7,996,434 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after buying an additional 571,544 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of NIKE by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock valued at $1,072,676,000 after buying an additional 211,360 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.