NIKE (NYSE:NKE) Raised to "Hold" at Wall Street Zen

Key Points

• NIKE has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment about the company's stock performance.
• The average price target for NIKE is now $78.22, with a current average rating of "Moderate Buy" after reviews from various analysts.
• NIKE reported quarterly earnings that exceeded expectations, with revenue of $11.10 billion despite an 11.9% decline compared to the same quarter last year.

Wall Street Zen upgraded shares of NIKE (NYSE:NKE - Free Report) from a sell rating to a hold rating in a research report released on Saturday.

Several other research analysts have also recently weighed in on the company. The Goldman Sachs Group increased their price objective on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Telsey Advisory Group restated a "market perform" rating and issued a $70.00 price target on shares of NIKE in a research report on Friday, June 27th. Barclays raised their price target on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Friday, June 27th. Finally, Truist Financial decreased their price target on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $78.67.

NIKE Stock Up 0.6%

NYSE:NKE traded up $0.46 during trading hours on Friday, reaching $74.06. 7,816,266 shares of the stock were exchanged, compared to its average volume of 16,232,755. NIKE has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The firm has a 50 day moving average of $75.54 and a 200 day moving average of $67.87. The stock has a market cap of $109.38 billion, a PE ratio of 34.29, a PEG ratio of 2.69 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. The business's revenue was down 11.9% on a year-over-year basis. On average, equities analysts expect that NIKE will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On NIKE

Hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after purchasing an additional 17,888 shares in the last quarter. Triumph Capital Management bought a new stake in NIKE in the fourth quarter worth approximately $215,000. Crestline Management LP increased its holdings in NIKE by 10.9% in the fourth quarter. Crestline Management LP now owns 4,723 shares of the footwear maker's stock worth $357,000 after purchasing an additional 464 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in NIKE by 47.9% in the fourth quarter. CoreCap Advisors LLC now owns 3,851 shares of the footwear maker's stock worth $291,000 after purchasing an additional 1,247 shares in the last quarter. 64.25% of the stock is currently 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.