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 research report released on Wednesday,Benzinga reports. Telsey Advisory Group currently has a $75.00 price target on the footwear maker’s stock.

Several other analysts have also recently weighed in on the stock. Evercore ISI lowered their price objective on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and raised their price target for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price target on shares of NIKE in a research note on Monday. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.26.

NIKE Stock Performance

NYSE:NKE opened at $74.04 on Wednesday. The stock has a market cap of $109.35 billion, a P/E ratio of 37.97, a PEG ratio of 2.60 and a beta of 1.29. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $74.73 and its two-hundred day moving average price is $67.31. NIKE has a twelve month low of $52.28 and a twelve month high of $85.23.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.05% and a net margin of 6.23%.NIKE’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 earnings per share. As a group, equities analysts predict that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management increased its position in shares of NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after acquiring an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of NIKE in the 1st quarter worth approximately $25,963,000. BROOKFIELD Corp ON lifted its stake in shares of NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after purchasing an additional 175,000 shares during the period. Finally, Olstein Capital Management L.P. lifted its stake in shares of NIKE by 42.2% in the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock valued at $5,777,000 after purchasing an additional 27,000 shares during the period. 64.25% of the stock is currently owned by institutional investors.

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.