NIKE (NYSE:NKE) Stock Rating Upgraded by Truist Financial

Truist Financial upgraded shares of NIKE (NYSE:NKE) from a hold rating to a buy rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. Truist Financial currently has $97.00 target price on the footwear maker’s stock, up from their prior target price of $83.00.

NKE has been the topic of several other research reports. Telsey Advisory Group decreased their price target on NIKE from $100.00 to $96.00 and set an outperform rating on the stock in a research note on Wednesday, October 2nd. Citigroup lowered their target price on shares of NIKE from $115.00 to $102.00 and set a buy rating on the stock in a report on Friday, June 28th. Robert W. Baird lifted their price target on shares of NIKE from $100.00 to $110.00 and gave the company an outperform rating in a report on Friday, September 20th. HSBC decreased their price objective on shares of NIKE from $100.00 to $90.00 and set a hold rating on the stock in a research note on Friday, June 28th. Finally, Oppenheimer reiterated an outperform rating and issued a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has an average rating of Moderate Buy and a consensus price target of $96.56.

NIKE Trading Up 0.1 %

Shares of NKE stock opened at $82.15 on Thursday. The firm has a fifty day moving average of $81.66 and a 200-day moving average of $85.58. The stock has a market cap of $123.99 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 1.96 and a beta of 1.02. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $11.64 billion. During the same quarter last year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities research analysts forecast that NIKE will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business 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 yield of 1.80%. NIKE’s dividend payout ratio is presently 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated 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 directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Annapolis Financial Services LLC lifted its holdings 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 purchasing an additional 220 shares in the last quarter. Pineridge Advisors LLC bought a new position in NIKE in the fourth quarter valued at approximately $38,000. Transcendent Capital Group LLC lifted its position in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC lifted its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Bruce G. Allen Investments LLC boosted its stake in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the period. 64.25% of the stock is 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.