Nike (NYSE:NKE) Rating Reiterated by JPMorgan Chase & Co.
JPMorgan Chase & Co. reaffirmed their buy rating on shares of Nike (NYSE:NKE) in a report published on Monday morning, The Fly reports. JPMorgan Chase & Co. currently has a $136.00 price target on the footwear maker’s stock, up from their prior price target of $118.00.
NKE has been the topic of a number of other reports. TheStreet cut shares of Nike from a b rating to a c+ rating in a research report on Thursday, June 25th. Jefferies Financial Group boosted their price objective on shares of Nike from $83.00 to $95.00 and gave the company a hold rating in a research report on Friday, June 26th. Piper Sandler boosted their price objective on shares of Nike from $96.00 to $112.00 and gave the company an overweight rating in a research report on Monday, June 22nd. Sanford C. Bernstein boosted their price objective on shares of Nike from $101.00 to $115.00 and gave the company an outperform rating in a research report on Friday, June 26th. Finally, Telsey Advisory Group boosted their price objective on shares of Nike from $95.00 to $110.00 and gave the company an outperform rating in a research report on Friday, June 19th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $113.41.
Shares of NYSE NKE opened at $118.59 on Monday. The company’s fifty day moving average is $107.68 and its 200-day moving average is $94.81. The stock has a market cap of $186.06 billion, a price-to-earnings ratio of 75.06, a P/E/G ratio of 3.13 and a beta of 0.83. Nike has a twelve month low of $60.00 and a twelve month high of $120.48. The company has a quick ratio of 1.59, a current ratio of 2.48 and a debt-to-equity ratio of 1.17.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a dividend of $0.245 per share. The ex-dividend date is Friday, August 28th. This represents a $0.98 annualized dividend and a dividend yield of 0.83%. Nike’s dividend payout ratio is presently 52.97%.
In related news, insider Heidi O’neill sold 10,000 shares of Nike stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $105.00, for a total transaction of $1,050,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew Campion sold 5,043 shares of Nike stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $97.12, for a total transaction of $489,776.16. The disclosure for this sale can be found here. Insiders have sold a total of 241,056 shares of company stock worth $26,663,725 over the last 90 days. 3.80% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Beaumont Asset Management L.L.C. bought a new stake in shares of Nike during the 2nd quarter worth about $384,000. Palisade Capital Management LLC NJ boosted its holdings in shares of Nike by 8.8% during the 2nd quarter. Palisade Capital Management LLC NJ now owns 35,300 shares of the footwear maker’s stock worth $3,461,000 after buying an additional 2,850 shares during the period. Kentucky Retirement Systems bought a new stake in Nike in the 2nd quarter valued at about $6,769,000. Balentine LLC bought a new stake in Nike in the 1st quarter valued at about $128,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in Nike in the 2nd quarter valued at about $87,000. 64.20% of the stock is owned by institutional investors and hedge funds.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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