BMO Capital Markets Reaffirms “Buy” Rating for Nike (NYSE:NKE)

BMO Capital Markets reissued their buy rating on shares of Nike (NYSE:NKE) in a report released on Friday morning, Stock Target Advisor reports. The brokerage currently has a $100.00 price objective on the footwear maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler boosted their price target on shares of Nike from $96.00 to $112.00 and gave the stock an overweight rating in a research report on Monday, June 22nd. Wedbush restated an outperform rating and issued a $107.00 target price on shares of Nike in a report on Friday. DZ Bank restated a sell rating on shares of Nike in a research report on Friday. Susquehanna Bancshares lifted their price target on Nike from $100.00 to $130.00 and gave the stock a positive rating in a research report on Monday, June 22nd. Finally, Sanford C. Bernstein upped their price objective on Nike from $101.00 to $115.00 and gave the company an outperform rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $108.96.

Shares of NKE stock opened at $95.87 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $148.25 billion, a price-to-earnings ratio of 60.68, a price-to-earnings-growth ratio of 3.05 and a beta of 0.78. Nike has a 12-month low of $60.00 and a 12-month high of $105.62. The stock’s 50-day moving average price is $96.23 and its 200-day moving average price is $93.53.

Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.53). The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $7.26 billion. Nike had a net margin of 6.79% and a return on equity of 31.93%. The business’s quarterly revenue was down 38.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. As a group, research analysts predict that Nike will post 2.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.245 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.98 annualized dividend and a yield of 1.02%. Nike’s dividend payout ratio (DPR) is currently 52.97%.

In other Nike news, CAO Hilary K. Krane sold 11,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $90.00, for a total transaction of $990,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John W. Rogers, Jr. bought 1,000 shares of the business’s stock in a transaction on Friday, April 3rd. The shares were acquired at an average cost of $84.63 per share, for a total transaction of $84,630.00. Following the transaction, the director now directly owns 12,851 shares in the company, valued at approximately $1,087,580.13. The disclosure for this purchase can be found here. Insiders have sold a total of 236,000 shares of company stock worth $23,228,100 over the last 90 days. 3.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Firestone Capital Management bought a new position in Nike in the fourth quarter worth approximately $25,000. Sowa Financial Group Inc. bought a new stake in Nike during the 4th quarter valued at $27,000. Kessler Investment Group LLC purchased a new position in shares of Nike in the 1st quarter valued at $27,000. Stuart Chaussee & Associates Inc. raised its position in shares of Nike by 668.9% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 301 shares in the last quarter. Finally, Perennial Advisors LLC purchased a new stake in shares of Nike during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 64.54% of the company’s stock.

About Nike

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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Analyst Recommendations for Nike (NYSE:NKE)

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