Telsey Advisory Group Reiterates Market Perform Rating for NIKE (NYSE:NKE)

Telsey Advisory Group restated their market perform rating on shares of NIKE (NYSE:NKE) in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $80.00 target price on the footwear maker’s stock.

NKE has been the topic of a number of other reports. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Wells Fargo & Company reduced their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Robert W. Baird reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. JPMorgan Chase & Co. reduced their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Finally, Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Stock Performance

Shares of NKE stock opened at $76.50 on Wednesday. The company has a market capitalization of $113.15 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.50 and a beta of 1.01. The business’s 50 day moving average is $74.31 and its two-hundred day moving average is $78.09. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE has a 12-month low of $68.62 and a 12-month high of $106.62.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. Analysts expect that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of large investors have recently modified their holdings of NKE. Allspring Global Investments Holdings LLC increased its holdings in shares of NIKE by 187.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock valued at $28,641,000 after acquiring an additional 211,461 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in NIKE by 25.5% in the third quarter. Raleigh Capital Management Inc. now owns 3,478 shares of the footwear maker’s stock valued at $307,000 after purchasing an additional 706 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in NIKE by 26.5% in the third quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock valued at $425,000 after purchasing an additional 1,006 shares during the last quarter. Oakworth Capital Inc. grew its position in shares of NIKE by 37.8% in the 3rd quarter. Oakworth Capital Inc. now owns 2,066 shares of the footwear maker’s stock valued at $183,000 after buying an additional 567 shares during the last quarter. Finally, Eastern Bank grew its position in shares of NIKE by 250.9% in the 3rd quarter. Eastern Bank now owns 17,532 shares of the footwear maker’s stock valued at $1,550,000 after buying an additional 12,535 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other 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.