NIKE (NYSE:NKE) Coverage Initiated at Berenberg Bank

Berenberg Bank began coverage on shares of NIKE (NYSE:NKE) in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a hold rating and a $58.00 price objective on the footwear maker’s stock.

A number of other equities research analysts also recently commented on the company. China Renaissance began coverage on NIKE in a research report on Wednesday, March 19th. They issued a “hold” rating on the stock. Guggenheim reaffirmed a “buy” rating and issued a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. Wells Fargo & Company reduced their target price on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, March 21st. Finally, Piper Sandler reduced their price objective on NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a research note 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.15.

NIKE Trading Down 1.0 %

Shares of NYSE:NKE opened at $54.84 on Tuesday. 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 firm has a market capitalization of $81.11 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.52 and a beta of 1.15. The business’s 50-day moving average is $69.31 and its 200 day moving average is $74.45. NIKE has a 1 year low of $52.28 and a 1 year high of $98.04.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS 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 net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. On average, research analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 53.16%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NKE. Heck Capital Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $28,000. Caitlin John LLC raised its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Roxbury Financial LLC purchased a new position in NIKE in the fourth quarter valued at $30,000. LFA Lugano Financial Advisors SA grew its stake in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in NIKE during the 4th quarter worth about $30,000. Institutional investors and hedge funds 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.