NIKE (NKE) Neutral Rating Confirmed at UBS Group

The UBS Group maintained its neutral recommendation for the company’s shares NIKE (NYSE:NKE – Free Report) in a report released Friday morning, MarketBeat Ratings reports. They currently have a $78.00 price target on the footwear maker’s stock.

NKE has been the subject of several other research reports. Wells Fargo & Company lowered their price objective on shares of NIKE from $120.00 to $115.00 and set an overweight rating on the company in a research note on Monday, June 10. Royal Bank of Canada reissued a perform sector rating and set a $100.00 price target (down from $110.00) on shares of NIKE in a research note on Friday, March 22. Bank of America raised shares of NIKE from neutral to buy and raised their price objective for the company from $110.00 to $113.00 in a research note on Thursday, April 11. Sanford C. Bernstein lowered their price objective on shares of NIKE from $134.00 to $120.00 and set an outform rating on the stock in a research note on Friday, March 22. Finally, Deutsche Bank Aktiengesellschaft reissued a buy rating and set a $115.00 price target on shares of NIKE in a research note on Thursday, June 13. Two investment analysts rated the stock a sell, fifteen rated a hold, and fourteen gave the stock a buy rating. The company has a consensus rating of Hold and an average price target of $98.96 based on data from MarketBeat.

See our latest report on NKE

NIKE shares down 20.0%

On Friday, NKE shares closed at $75.36. The company has a fifty-day moving average price of $93.28 and a 200-day moving average price of $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 price-to-earnings ratio of 20.20, a price-to-earnings growth ratio of 1.79 and a beta of 1.05. The company has a debt to equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE – Get Free Report) last released its quarterly financial results on Thursday, June 27. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter a year ago, the company earned $0.66 per share. NIKE’s revenue for the quarter was down 1.6% year over year. Sell-side analysts are expecting NIKE to post earnings of $3.9 per share for the current year.

NIKE announces dividend

The company also recently revealed 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. The ex-dividend date for this dividend is Monday, June 3. This represents an annual dividend of $1.48 and a dividend yield of 1.96%. NIKE’s dividend payout ratio is currently 39.68%.

Buying and selling confidential information

In related news, CEO Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, bringing the total value to $15,682,726.92. Following the sale, the CEO now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in legal documents filed with the Securities & Exchange Commission, which are available at this link. In other NIKE news, Executive Vice President Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, bringing the total value to $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in legal documents filed with the SEC, which are available on the SEC’s website. Additionally, CEO Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated 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 now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. Disclosure for this sale can be found here. Insiders sold 213,660 shares of the company’s stock worth $19,946,333 over the last three months. Corporate insiders own 0.50% of the company’s shares.

Institutional inflows and outflows

A number of institutional investors and hedge funds have recently added to or reduced their holdings in the company. Piscataqua Savings Bank increased its holdings in shares of NIKE by 2.1% in the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the shoe maker’s stock worth $528,000 after acquiring an additional 100 shares during the period. Physicians Financial Services Inc. increased its holdings in shares of NIKE by 0.6% in the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the shoe maker’s stock worth $1,745,000 after acquiring an additional 100 shares during the period. ZWJ Investment Counsel Inc. increased its holdings in shares of NIKE by 4.0% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the shoe maker’s stock worth $282,000 after acquiring an additional 100 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in shares of NIKE by 0.4% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the shoe maker’s stock worth $2,776,000 after acquiring an additional 100 shares during the period. Finally, Claro Advisors LLC increased its holdings in shares of NIKE by 0.8% in the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the shoe maker’s stock worth $1,327,000 after acquiring an additional 101 shares during the period. 64.25% of the stock is currently owned by hedge funds and other 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 trademark; and sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell trademarks.

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