NIKE (NYSE:NKE) Downgraded by Seaport Res Ptn to Neutral

Seaport Res Ptn downgraded shares of NIKE (NYSE:NKEGet Rating) from a buy rating to a neutral rating in a research note released on Wednesday, PriceTargets.com reports.

A number of other equities research analysts have also recently weighed in on NKE. Guggenheim cut their price objective on shares of NIKE from $195.00 to $160.00 and set a buy rating on the stock in a report on Monday, June 13th. Credit Suisse Group set a $165.00 target price on shares of NIKE in a report on Friday, April 29th. Truist Financial raised their target price on shares of NIKE from $164.00 to $176.00 in a report on Tuesday, March 22nd. Morgan Stanley reiterated an overweight rating and issued a $159.00 price target on shares of NIKE in a research report on Wednesday, June 15th. Finally, Barclays decreased their price target on shares of NIKE from $161.00 to $140.00 and set an overweight rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $160.62.

NKE stock opened at $104.92 on Wednesday. The company has a market cap of $165.12 billion, a P/E ratio of 27.68, a PEG ratio of 1.74 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.06 and a quick ratio of 2.18. NIKE has a 1 year low of $103.46 and a 1 year high of $179.10. The firm has a 50-day moving average of $117.72 and a 200 day moving average of $135.48.

NIKE (NYSE:NKEGet Rating) last announced its quarterly earnings data on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. The business had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.61 billion. NIKE had a net margin of 13.06% and a return on equity of 43.04%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. On average, equities research analysts expect that NIKE will post 3.68 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Monday, June 6th will be paid a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, June 3rd. NIKE’s dividend payout ratio is currently 32.19%.

In related news, COO Andrew Campion sold 14,203 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $120.61, for a total transaction of $1,713,023.83. Following the completion of the sale, the chief operating officer now directly owns 73,795 shares in the company, valued at $8,900,414.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew Friend sold 9,032 shares of the firm’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. Following the sale, the chief financial officer now owns 51,581 shares of the company’s stock, valued at $5,700,732.12. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Mcdonald Partners LLC increased its position in NIKE by 0.7% during the third quarter. Mcdonald Partners LLC now owns 8,625 shares of the footwear maker’s stock worth $1,253,000 after purchasing an additional 61 shares during the last quarter. Gilman Hill Asset Management LLC increased its position in shares of NIKE by 1.5% during the fourth quarter. Gilman Hill Asset Management LLC now owns 4,693 shares of the footwear maker’s stock valued at $782,000 after acquiring an additional 70 shares during the last quarter. Buffington Mohr McNeal increased its position in shares of NIKE by 0.7% during the fourth quarter. Buffington Mohr McNeal now owns 9,517 shares of the footwear maker’s stock valued at $1,586,000 after acquiring an additional 70 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in shares of NIKE by 3.2% during the fourth quarter. Prestige Wealth Management Group LLC now owns 2,292 shares of the footwear maker’s stock valued at $382,000 after acquiring an additional 70 shares during the last quarter. Finally, Resources Management Corp CT ADV increased its position in shares of NIKE by 0.5% during the fourth quarter. Resources Management Corp CT ADV now owns 15,025 shares of the footwear maker’s stock valued at $2,504,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 65.35% of the company’s stock.

NIKE Company Profile (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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Analyst Recommendations for NIKE (NYSE:NKE)

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