NIKE (NYSE:NKE) Upgraded by Piper Sandler to Overweight Rating

Piper Sandler upgraded shares of NIKE (NYSE:NKE) from a neutral rating to an overweight rating in a research report sent to investors on Friday, Marketbeat reports. The brokerage currently has $90.00 price target on the footwear maker’s stock, up from their prior price target of $72.00.

Several other equities research analysts also recently commented on NKE. Morgan Stanley dropped their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Bank of America reduced their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. UBS Group restated a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Guggenheim cut their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Trading Up 0.0 %

Shares of NIKE stock opened at $71.31 on Friday. The firm has a market cap of $106.92 billion, a PE ratio of 20.43, a P/E/G ratio of 1.89 and a beta of 1.02. NIKE has a 1 year low of $70.75 and a 1 year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a fifty day moving average price of $76.29 and a 200-day moving average price of $78.47.

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

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is 49.38%.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Insurance & Annuity Association of America purchased a new position in NIKE in the third quarter worth about $30,000. VitalStone Financial LLC raised its stake in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the period. Ecofi Investissements SA bought a new position in NIKE during the 2nd quarter worth about $49,000. Finally, Riverview Trust Co bought a new position in shares of NIKE during the third quarter valued at approximately $52,000. 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.