Needham & Company LLC reiterated their buy rating on shares of NIKE (NYSE:NKE - Free Report) in a report released on Friday,Benzinga reports. The brokerage currently has a $84.00 price target on the footwear maker's stock.
A number of other brokerages also recently commented on NKE. Royal Bank of Canada reduced their price objective on NIKE from $82.00 to $80.00 and set a "sector perform" rating for the company in a research report on Thursday, November 7th. TD Cowen reduced their target price on NIKE from $78.00 to $73.00 and set a "hold" rating for the company in a research report on Monday, November 18th. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Monday, December 2nd. Truist Financial reduced their price objective on shares of NIKE from $97.00 to $90.00 and set a "buy" rating for the company in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a research note on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average target price of $88.62.
Check Out Our Latest Analysis on NKE
NIKE Stock Performance
NKE stock traded up $2.22 on Friday, reaching $70.90. 16,035,659 shares of the company were exchanged, compared to its average volume of 13,078,415. 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 12 month low of $68.62 and a 12 month high of $107.43. The stock's fifty day moving average price is $75.12 and its 200 day moving average price is $78.09. The firm has a market capitalization of $104.88 billion, a PE ratio of 21.88, a PEG ratio of 2.34 and a beta of 1.01.
NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company 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 posted $1.03 EPS. The business's revenue was down 7.7% compared to the same quarter last year. On average, research analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.
NIKE Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a boost from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Monday, December 2nd. NIKE's dividend payout ratio is 49.38%.
Insider Buying and Selling
In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Teachers Insurance & Annuity Association of America acquired a new position in NIKE in the third quarter valued at approximately $30,000. Caitlin John LLC raised its position in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at $28,000. Roxbury Financial LLC acquired a new position in shares of NIKE in the 4th quarter valued at $30,000. Finally, LFA Lugano Financial Advisors SA boosted its position in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 64.25% of the company's stock.
NIKE Company Profile
(
Get Free Report)
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.
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