NIKE (NYSE:NKE) Given Equal Weight Rating at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of NIKE (NYSE:NKE) in a report issued on Friday, Benzinga reports. They currently have a $79.00 target price on the footwear maker’s stock.

A number of other equities research analysts have also issued reports on the stock. Piper Sandler restated a neutral rating and set a $80.00 price target on shares of NIKE in a report on Friday, August 23rd. HSBC cut their target price on shares of NIKE from $100.00 to $90.00 and set a hold rating on the stock in a research note on Friday, June 28th. Barclays raised their target price on NIKE from $80.00 to $84.00 and gave the stock an equal weight rating in a research report on Wednesday. Guggenheim dropped their price target on NIKE from $130.00 to $115.00 and set a buy rating on the stock in a research report on Friday, June 28th. Finally, UBS Group restated a neutral rating and set a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, NIKE currently has a consensus rating of Moderate Buy and an average target price of $96.15.

NIKE Price Performance

Shares of NYSE:NKE opened at $86.55 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market capitalization of $130.64 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The stock has a fifty day moving average of $78.11 and a 200-day moving average of $87.14. NIKE has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 earnings per share. As a group, equities analysts anticipate that NIKE will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. NIKE’s payout ratio is currently 39.68%.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Annapolis Financial Services LLC lifted its stake in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the period. True Wealth Design LLC raised its holdings in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $33,000. Core Wealth Advisors Inc. grew its holdings in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. bought a new stake in shares of NIKE during the fourth quarter valued at approximately $36,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.