Sanford C. Bernstein Reiterates “Buy” Rating for NIKE (NYSE:NKE)

Sanford C. Bernstein reissued their buy rating on shares of NIKE (NYSE:NKE) in a report issued on Wednesday,MarketScreener Latest Ratings reports. Sanford C. Bernstein currently has a $90.00 target price on the footwear maker’s stock.

NKE has been the subject of a number of other reports. Jefferies Financial Group restated a “buy” rating and set a $115.00 target price on shares of NIKE in a report on Monday, September 29th. Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research note on Wednesday. Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Bank of America upped their target price on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 27th. Finally, Truist Financial reissued a “buy” rating and issued a $85.00 price target on shares of NIKE in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

NIKE Trading Down 3.4%

Shares of NIKE stock opened at $72.01 on Wednesday. The business has a fifty day simple moving average of $74.62 and a 200-day simple moving average of $67.31. NIKE has a fifty-two week low of $52.28 and a fifty-two week high of $84.76. The firm has a market cap of $106.34 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 2.75 and a beta of 1.29. The company has a quick ratio of 1.50, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the company earned $0.70 EPS. NIKE’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE’s payout ratio is 82.05%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.80% of the stock is owned by insiders.

Institutional Trading of NIKE

Several large investors have recently modified their holdings of NKE. Vanguard Group Inc. raised its holdings in NIKE by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock worth $8,086,042,000 after acquiring an additional 672,705 shares during the period. State Street Corp grew its position in shares of NIKE by 2.8% in the second quarter. State Street Corp now owns 59,154,159 shares of the footwear maker’s stock valued at $4,225,441,000 after purchasing an additional 1,590,603 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the period. 64.25% of the stock is 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.