NIKE (NYSE:NKE) Stock Rating Lowered by Barclays

Barclays lowered shares of NIKE (NYSE:NKE) from an overweight rating to an equal weight rating in a report published on Friday morning, MarketBeat.com reports. They currently have $80.00 target price on the footwear maker’s stock, down from their prior target price of $109.00.

Other equities research analysts have also recently issued research reports about the company. Williams Trading restated a sell rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Wedbush dropped their price target on NIKE from $115.00 to $97.00 and set an outperform rating for the company in a research report on Friday. Citigroup cut their price target on NIKE from $135.00 to $125.00 and set a buy rating for the company in a research note on Thursday, March 14th. Jefferies Financial Group lowered their price objective on shares of NIKE from $110.00 to $100.00 and set a hold rating on the stock in a research note on Friday, March 22nd. Finally, Piper Sandler cut their target price on shares of NIKE from $107.00 to $98.00 and set a neutral rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $98.96.

NIKE Price Performance

NIKE stock opened at $75.37 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE has a one year low of $74.55 and a one year high of $123.39. The company has a market cap of $113.76 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The business has a fifty day moving average of $93.28 and a two-hundred day moving average of $98.85.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, analysts predict that NIKE will post 3.9 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of NKE. Norges Bank bought a new position in shares of NIKE during the fourth quarter valued at approximately $1,315,097,000. Price T Rowe Associates Inc. MD grew its stake in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the last quarter. Capital International Investors increased its position in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD bought a new stake in NIKE in the first quarter valued at $533,533,000. Finally, Capital World Investors boosted its holdings in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.