Needham & Company LLC Reaffirms “Buy” Rating for NIKE (NYSE:NKE)

Needham & Company LLC reiterated their buy rating on shares of NIKE (NYSE:NKE) in a report released on Friday,Benzinga reports. The firm currently has a $84.00 price target on the footwear maker’s stock.

A number of other analysts have also recently weighed in on NKE. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Bank of America lowered their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and upped their price objective for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Finally, Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.77.

NIKE Stock Down 0.2 %

NIKE stock opened at $76.94 on Friday. The company has a market capitalization of $115.36 billion, a P/E ratio of 22.05, a PEG ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.30. The stock has a 50-day simple moving average of $78.07 and a 200-day simple moving average of $80.55.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. Equities research analysts expect that NIKE will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 45.85%.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter valued at approximately $30,000. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC lifted its position in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of NIKE in the 2nd quarter valued at about $48,000. Finally, Ecofi Investissements SA bought a new stake in shares of NIKE during the 2nd quarter valued at about $49,000. 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.