NIKE (NYSE:NKE) Earns “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of NIKE (NYSE:NKE) in a report published on Friday, Marketbeat Ratings reports. The firm currently has a $83.00 price target on the footwear maker’s stock, down from their previous price target of $116.00.

Several other analysts also recently weighed in on NKE. Wedbush cut their price target on NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a research note on Friday. Telsey Advisory Group lowered their price objective on NIKE from $115.00 to $100.00 and set an outperform rating on the stock in a research report on Friday. Royal Bank of Canada reaffirmed a sector perform rating and issued a $100.00 price objective (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Stifel Nicolaus reaffirmed a hold rating and issued a $88.00 price objective (down from $117.00) on shares of NIKE in a research report on Friday. Finally, Robert W. Baird lowered their price objective on NIKE from $125.00 to $100.00 and set an outperform rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $98.96.

NIKE Stock Performance

NIKE stock opened at $75.36 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $113.75 billion, a P/E ratio of 20.20, a PEG ratio of 1.79 and a beta of 1.05. The stock’s 50 day moving average is $93.28 and its 200 day moving average is $99.15. NIKE has a twelve month low of $74.55 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. On average, equities research analysts predict that NIKE will post 3.9 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.96%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Piscataqua Savings Bank grew its position in shares of NIKE by 2.1% during the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after purchasing an additional 100 shares in the last quarter. Physicians Financial Services Inc. raised its stake in shares of NIKE by 0.6% during the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after acquiring an additional 100 shares in the last quarter. ZWJ Investment Counsel Inc. raised its stake in shares of NIKE by 4.0% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after acquiring an additional 100 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of NIKE by 0.4% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after acquiring an additional 100 shares in the last quarter. Finally, Claro Advisors LLC raised its stake in shares of NIKE by 0.8% during the fourth quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock valued at $1,327,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other 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.