NIKE’s (NKE) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of NIKE (NYSE:NKE) in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a $80.00 price target on the footwear maker’s stock.

A number of other research firms also recently commented on NKE. Robert W. Baird cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. TD Cowen dropped their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Finally, Wells Fargo & Company reduced their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Price Performance

NKE opened at $76.80 on Wednesday. NIKE has a 1 year low of $68.62 and a 1 year high of $106.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company’s 50 day simple moving average is $74.34 and its 200 day simple moving average is $78.06. The stock has a market capitalization of $113.60 billion, a PE ratio of 23.70, a P/E/G ratio of 2.38 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 EPS. As a group, sell-side analysts expect that NIKE will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were 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 owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of NIKE by 187.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock worth $28,641,000 after purchasing an additional 211,461 shares during the last quarter. Raleigh Capital Management Inc. increased its position in NIKE by 25.5% in the third quarter. Raleigh Capital Management Inc. now owns 3,478 shares of the footwear maker’s stock worth $307,000 after buying an additional 706 shares during the period. Foundations Investment Advisors LLC lifted its stake in NIKE by 26.5% in the third quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock valued at $425,000 after buying an additional 1,006 shares during the last quarter. Oakworth Capital Inc. boosted its holdings in shares of NIKE by 37.8% during the third quarter. Oakworth Capital Inc. now owns 2,066 shares of the footwear maker’s stock valued at $183,000 after acquiring an additional 567 shares during the period. Finally, Eastern Bank grew its position in shares of NIKE by 250.9% during the third quarter. Eastern Bank now owns 17,532 shares of the footwear maker’s stock worth $1,550,000 after acquiring an additional 12,535 shares during the last quarter. 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.