NIKE (NYSE:NKE) Stock Rating Lowered by Daiwa America

NIKE (NYSE:NKE) was downgraded by analysts at Daiwa America from a “moderate buy” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

A number of other analysts have also recently commented on the company. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Evercore ISI lowered their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, August 23rd. Finally, Telsey Advisory Group cut their target price on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE Stock Up 0.8 %

Shares of NKE stock opened at $79.01 on Wednesday. The company’s fifty day moving average price is $77.23 and its 200-day moving average price is $87.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE has a one year low of $70.75 and a one year high of $123.39. The company has a market capitalization of $118.46 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. Sell-side analysts expect that NIKE will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Annapolis Financial Services LLC boosted its stake in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Core Wealth Advisors Inc. boosted its holdings in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Frank Rimerman Advisors LLC purchased a new position in NIKE during the fourth quarter worth about $33,000. Finally, Gold Investment Management Ltd. bought a new position in shares of NIKE in the fourth quarter worth approximately $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Company Profile

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.