NIKE (NYSE:NKE) Earns Hold Rating from Analysts at Berenberg Bank

Berenberg Bank started coverage on shares of NIKE (NYSE:NKE) in a research report sent to investors on Tuesday, Marketbeat reports. The firm issued a hold rating and a $58.00 price target on the footwear maker’s stock.

Several other research firms have also recently issued reports on NKE. Cfra Research raised shares of NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Robert W. Baird lowered their target price on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. UBS Group reduced their price target on NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Piper Sandler reduced their target price on NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Sixteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $85.15.

NIKE Trading Up 4.1 %

Shares of NIKE stock opened at $55.73 on Tuesday. NIKE has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business has a 50 day moving average price of $68.71 and a 200 day moving average price of $74.09. The company has a market capitalization of $82.44 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. Sell-side analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Monday, March 3rd. NIKE’s payout ratio is 53.16%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Holmes Swan bought 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. JNBA Financial Advisors raised its position in shares of NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after purchasing an additional 136 shares during the period. Elgethun Capital Management lifted its position in shares of NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock worth $94,000 after buying an additional 149 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of NIKE by 1.0% in the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after buying an additional 150 shares during the period. Finally, Game Plan Financial Advisors LLC grew its position in shares of NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after buying an additional 150 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

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.