NIKE’s (NKE) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial reiterated their buy rating on shares of NIKE (NYSE:NKE) in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a $85.00 price objective on the footwear maker’s stock.

Other analysts have also recently issued reports about the stock. Barclays set a $70.00 target price on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday. Piper Sandler set a $84.00 target price on shares of NIKE and gave the stock an “overweight” rating in a report on Wednesday. Argus upgraded shares of NIKE to a “buy” rating in a report on Sunday, July 6th. UBS Group set a $71.00 target price on shares of NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.26.

NIKE Trading Up 6.2%

Shares of NYSE:NKE opened at $74.04 on Wednesday. The stock has a market capitalization of $109.35 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 2.60 and a beta of 1.29. NIKE has a 1-year low of $52.28 and a 1-year high of $85.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The company has a 50 day moving average price of $74.73 and a 200 day moving average price of $67.31.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.05%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. On average, research analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE’s dividend payout ratio (DPR) is currently 74.07%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Stone House Investment Management LLC bought a new position in NIKE in the 1st quarter worth $25,000. Mascoma Wealth Management LLC bought a new position in NIKE in the 2nd quarter worth $26,000. Halbert Hargrove Global Advisors LLC raised its holdings in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares during the period. Saudi Central Bank bought a new position in NIKE in the 1st quarter worth $30,000. Finally, Matrix Trust Co raised its holdings in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the period. 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.