NIKE (NYSE:NKE) Upgraded to Strong-Buy at DA Davidson

DA Davidson upgraded shares of NIKE (NYSE:NKE) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other analysts also recently weighed in on the company. Truist Financial decreased their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Royal Bank of Canada decreased their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Morgan Stanley cut their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Finally, UBS Group lowered their price target on shares of NIKE from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.58.

NIKE Stock Performance

NYSE:NKE opened at $76.79 on Monday. The stock’s 50-day moving average is $77.87 and its 200-day moving average is $80.18. NIKE has a 1-year low of $70.75 and a 1-year high of $109.96. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market cap of $115.14 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. Equities research analysts anticipate that NIKE will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.08%. NIKE’s dividend payout ratio is 49.38%.

Hedge Funds Weigh In On NIKE

Large investors have recently modified their holdings of the business. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the 3rd quarter worth approximately $30,000. VitalStone Financial LLC lifted its position 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 acquiring an additional 150 shares in the last quarter. Dunhill Financial LLC boosted its holdings in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of NIKE in the second quarter valued at $48,000. Finally, Ecofi Investissements SA bought a new stake in shares of NIKE during the 2nd quarter valued at $49,000. Hedge funds and other institutional investors 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.