Oppenheimer Reaffirms Outperform Rating for NIKE (NYSE:NKE)

Oppenheimer reissued their outperform rating on shares of NIKE (NYSE:NKE) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $120.00 price objective on the footwear maker’s stock.

NKE has been the subject of several other reports. Robert W. Baird reduced their target price on shares of NIKE from $140.00 to $125.00 and set an outperform rating for the company in a report on Friday, March 22nd. Piper Sandler reduced their price objective on shares of NIKE from $107.00 to $98.00 and set a neutral rating for the company in a research note on Friday, March 22nd. Truist Financial restated a hold rating and set a $99.00 target price on shares of NIKE in a research note on Thursday, June 20th. Barclays dropped their target price on shares of NIKE from $142.00 to $114.00 and set an overweight rating for the company in a report on Monday, March 25th. Finally, Wedbush reissued an outperform rating and set a $115.00 price target on shares of NIKE in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $98.96.

NIKE Trading Up 1.9 %

Shares of NKE stock opened at $76.83 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a market cap of $115.96 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.43 and a beta of 1.01. NIKE has a 1 year low of $74.29 and a 1 year high of $123.39. The firm has a fifty day moving average price of $93.28 and a 200-day moving average price of $98.85.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. As a group, equities analysts predict that NIKE will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.93%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Activity at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NKE. Vanguard Group Inc. lifted its holdings in shares of NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after buying an additional 501,792 shares during the period. Capital International Investors raised its holdings in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Norges Bank bought a new position in NIKE during the 4th quarter worth about $1,315,097,000. Finally, Fisher Asset Management LLC increased its position in NIKE by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after purchasing an additional 219,091 shares during the period. 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.