NIKE (NYSE:NKE) Earns Buy Rating from Analysts at BTIG Research

BTIG Research started coverage on shares of NIKE (NYSE:NKE) in a research report report published on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $100.00 price objective on the footwear maker’s stock.

NKE has been the subject of several other reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 price target on shares of NIKE in a report on Wednesday, October 1st. Piper Sandler set a $84.00 price target on NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, Argus raised NIKE to a “buy” rating in a report on Sunday, July 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Stock Performance

Shares of NKE opened at $66.82 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm has a market cap of $98.77 billion, a PE ratio of 34.27, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The company’s 50 day simple moving average is $73.23 and its 200-day simple moving average is $67.36. NIKE has a 12-month low of $52.28 and a 12-month high of $84.76.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’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. As a group, equities analysts predict that NIKE will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. NIKE’s dividend payout ratio (DPR) is 82.05%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Greenwood Capital Associates LLC increased its position in shares of NIKE by 789.4% in the third quarter. Greenwood Capital Associates LLC now owns 94,913 shares of the footwear maker’s stock valued at $6,618,000 after buying an additional 84,241 shares in the last quarter. Willner & Heller LLC increased its position in shares of NIKE by 22.1% in the third quarter. Willner & Heller LLC now owns 4,370 shares of the footwear maker’s stock valued at $305,000 after buying an additional 792 shares in the last quarter. Nvwm LLC increased its position in shares of NIKE by 11.4% in the third quarter. Nvwm LLC now owns 20,459 shares of the footwear maker’s stock valued at $1,427,000 after buying an additional 2,089 shares in the last quarter. SWS Partners increased its position in shares of NIKE by 1.8% in the third quarter. SWS Partners now owns 36,484 shares of the footwear maker’s stock valued at $2,558,000 after buying an additional 662 shares in the last quarter. Finally, Highland Capital Management LLC increased its position in shares of NIKE by 1.7% in the third quarter. Highland Capital Management LLC now owns 106,328 shares of the footwear maker’s stock valued at $7,414,000 after buying an additional 1,803 shares in the last quarter. Hedge funds and other 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.