NIKE (NYSE:NKE) Upgraded by Oppenheimer to Outperform

Oppenheimer upgraded shares of NIKE (NYSE:NKEFree Report) from a market perform rating to an outperform rating in a report issued on Friday morning, MarketBeat reports. Oppenheimer currently has $120.00 target price on the footwear maker’s stock, up from their previous target price of $110.00.

A number of other equities research analysts have also issued reports on NKE. Barclays cut their price objective 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. Truist Financial reiterated a hold rating and issued a $99.00 target price on shares of NIKE in a research report on Thursday, June 20th. Wedbush restated an outperform rating and issued a $115.00 price objective on shares of NIKE in a research report on Tuesday, April 30th. The Goldman Sachs Group reduced their price objective on NIKE from $135.00 to $120.00 and set a buy rating for the company in a research note on Friday, March 22nd. Finally, Citigroup lowered their target price on NIKE from $135.00 to $125.00 and set a buy rating for the company in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $114.81.

View Our Latest Report on NKE

NIKE Stock Performance

Shares of NYSE NKE opened at $97.18 on Friday. The firm’s 50-day moving average price is $93.68 and its 200-day moving average price is $99.67. NIKE has a 52-week low of $88.66 and a 52-week high of $123.39. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market cap of $146.67 billion, a PE ratio of 28.58, a PEG ratio of 1.80 and a beta of 1.05.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.52%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Insiders Place Their Bets

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction 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 sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was 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 is accessible through this link. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 in the last quarter. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NKE. Cim LLC bought a new stake in shares of NIKE during the 4th quarter valued at $14,275,000. TKG Advisors LLC bought a new stake in shares of NIKE in the 4th quarter valued at $1,012,000. Louisiana State Employees Retirement System bought a new position in NIKE during the 4th quarter worth about $8,034,000. Financial Gravity Asset Management Inc. increased its holdings in NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after purchasing an additional 176,476 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in NIKE by 4.3% during the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after purchasing an additional 192,752 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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 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.

Further Reading

Analyst Recommendations for NIKE (NYSE:NKE)

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