NIKE (NYSE:NKE) Receives “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of NIKE (NYSE:NKE) in a research report released on Friday morning, Benzinga reports. Telsey Advisory Group currently has a $100.00 price objective on the footwear maker’s stock.

Several other brokerages have also recently issued reports on NKE. BMO Capital Markets lowered their price objective on shares of NIKE from $118.00 to $100.00 and set an outperform rating for the company in a research note on Friday, June 28th. Bank of America dropped their price target on NIKE from $113.00 to $104.00 and set a buy rating for the company in a research note on Friday, June 28th. StockNews.com lowered NIKE from a buy rating to a hold rating in a research note on Friday, June 21st. UBS Group reissued a neutral rating and set a $78.00 target price on shares of NIKE in a research report on Friday, June 28th. Finally, Williams Trading raised shares of NIKE from a sell rating to a buy rating and lifted their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $96.15.

NIKE Stock Performance

NYSE NKE opened at $86.55 on Friday. The business’s 50-day moving average price is $78.11 and its 200 day moving average price is $87.14. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a market capitalization of $130.64 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the firm posted $0.66 EPS. The company’s revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that NIKE will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently modified their holdings of the business. Annapolis Financial Services LLC grew its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth approximately $33,000. Core Wealth Advisors Inc. lifted its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in NIKE during the 4th quarter valued at approximately $36,000. 64.25% of the stock is owned by institutional investors and hedge funds.

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.