NIKE (NKE) ‘Neutral’ Rating Reaffirmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. maintained a neutral assessment of the stock NIKE (NYSE:NKE – Free Report) in a report released Friday morning, Marketbeat Ratings says. The shoe maker’s current target price for shares is $83.00, down from its previous target price of $116.00.

Several other brokerages also commented on NKE. Piper Sandler lowered their price target on shares of NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a research report on Friday, March 22nd. StockNews.com downgraded NIKE from a buy rating to a hold rating in a research report on Friday, June 21st. Telsey Advisory Group lowered their price target on shares of NIKE from $115.00 to $100.00 and set an outperform rating in a research report on Friday. Truist Financial reiterated a Hold rating and set a $99.00 price target on shares of NIKE in a research report on Thursday, June 20th. Finally, Morgan Stanley restated an equal weight rating and set a $79.00 price target on NIKE stock (previously lowered from $114.00) in a research report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have rated the stock with a hold rating and fourteen have rated the stock with a buy rating. The stock has an average rating of “hold” and an average price target of $98.96, according to data from MarketBeat.com.

Read our latest report on NKE

NIKE 20.0% off

On Friday, NYSE NKE began trading at $75.36. The company’s 50-day moving average price is $93.28 and its two-hundred-day moving average price is $99.15. NIKE has a 12 month low of $74.55 and a 12 month high of $123.39. The company has a market capitalization of $113.75 billion, a PE ratio of 20.20, a price-to-earnings growth ratio of 1.79 and a beta of 1.05. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the company reported earnings per share of $0.66. The company’s revenue declined 1.6% year-over-year. On average, analysts expect NIKE to report 3.9 EPS for the current year.

NIKE announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1. Investors of record on Monday, June 3 will receive a dividend of $0.37 per share. This represents a dividend of $1.48 annualized and a dividend yield of 1.96%. The ex-dividend date is Monday, June 3. NIKE’s payout ratio is 39.68%.

Confidential activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, bringing the total transaction amount to $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NIKE news, CEO Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, bringing the total transaction amount to $15,682,726.92. Following the completion of the transaction, the CEO directly owns 1,102,090 shares of the company worth USD 102,648,662.60. The sale was disclosed in documents filed with the SEC, which are available on the SEC’s website. Additionally, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, bringing the total to $26,406.48. Following the transaction, the vice president directly owns 730 shares of the company’s stock, valued at USD 68,357.20. Disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock worth $19,946,333. 0.50% of the shares belong to persons with access to confidential information.

Hedge funds rate NIKE

Several institutional investors and hedge funds recently bought and sold shares of NKE. Annapolis Financial Services LLC increased its holdings in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the period. Iron Horse Wealth Management LLC increased its holdings in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. purchased a new position in NIKE stock during the fourth quarter worth $29,000. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% during 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 during the period. Finally, Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth $33,000. 64.25% of the shares belong to institutional investors.

ABOUT NIKE

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NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and services worldwide. The company provides sports and casual footwear, clothing and accessories under the Jumpman brand; and casual sneakers, apparel and accessories trademarked by Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell.

NIKE 20.0% off

NIKE announces dividend

Confidential activity at NIKE

Hedge funds rate NIKE

ABOUT NIKE

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