NIKE (NYSE:NKE) Downgraded to “Hold” at Daiwa America

Daiwa America cut shares NIKE (NYSE:NKE – Free Report) from a moderate-buy rating to a hold rating in a report on Wednesday, Zacks.com reports.

Several other brokerages have recently commented on NKE. HSBC cut their price target on NIKE from $100.00 to $90.00 and set a hold rating on the stock in a report on Friday, June 28th. Piper Sandler restated a neutral rating and set a $80.00 target price on shares of NIKE in a report on Friday, August 23rd. KeyCorp reiterated a sector weight rating on shares of NIKE in a report on Friday, June 28th. StockNews.com cut NIKE from a buy rating to a hold rating in a report on Friday, June 21st. Finally, BMO Capital Markets cut their price target on NIKE from $118.00 to $100.00 and set an outperform rating for the company in a research report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Moderate Buy and a consensus price target of $95.59, according to MarketBeat.com.

See the latest stock analysis on NIKE

NIKE Stock 0.8%

Shares of NYSE NKE opened at $79.01 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 1.69, and a debt-to-equity ratio of 0.55. The company has a market cap 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 has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a 50 day moving average price of $77.23 and a two hundred day moving average price of $87.76.

NIKE (NYSE:NKE – Get Your Free Report ) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. In the same quarter last year, the company posted earnings of $0.66 per share. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts forecast that NIKE will post 3.06 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents an annualized dividend of $1.48 and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider trading at NIKE

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

Institutional inputs and outputs

Several institutional investors have recently made changes to their positions in NKE. Cim LLC bought a new stake in NIKE in the 4th quarter valued at approximately $14,275,000. TKG Advisors LLC bought a new stake in NIKE in the 4th quarter valued at about $1,012,000. Spartan Planning & Wealth Management bought a new stake in NIKE in the fourth quarter valued at about $182,000. CreativeOne Wealth LLC raised its stake in NIKE by 16.1% during the 4th quarter. CreativeOne Wealth LLC now owns 20,542 shares of the footwear maker’s stock valued at $2,230,000 after buying an additional 2,846 shares in the that period. Finally, Edmond DE Rothschild Holding SA grew its stake in NIKE by 27.9% during the 4th quarter. Edmond DE Rothschild Holding SA now owns 113,299 shares of the footwear maker’s stock, worth 12,301 shares. $000,000 after buying an additional 24,686 shares during the period. Institutional investors own 64.25% of the company’s shares.

NIKE Company Profile

(Get a free report)

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 brand; and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.

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