NIKE (NYSE:NKE) Now Covered by China Renaissance

China Renaissance initiated coverage on shares of NIKE (NYSE:NKE) in a report released on Wednesday morning, MarketBeat reports. The firm issued a hold rating on the footwear maker’s stock.

Several other brokerages also recently weighed in on NKE. BMO Capital Markets boosted their target price on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. UBS Group reissued a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Needham & Company LLC decreased their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.54.

NIKE Stock Down 0.5 %

NKE stock opened at $72.92 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company’s 50 day simple moving average is $74.76 and its 200-day simple moving average is $77.60. NIKE has a 12 month low of $68.62 and a 12 month high of $101.92. The firm has a market capitalization of $107.86 billion, a PE ratio of 22.51, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the business posted $1.03 earnings per share. NIKE’s revenue was down 7.7% compared to the same quarter last year. Equities analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at approximately $28,000. Caitlin John LLC increased its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE in the third quarter valued at $30,000. Roxbury Financial LLC bought a new position in NIKE during the 4th quarter valued at $30,000. Finally, LFA Lugano Financial Advisors SA grew its holdings in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds 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.