NIKE (NYSE:NKE) Now Covered by China Renaissance

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

Other analysts have also recently issued research reports about the stock. Truist Financial cut their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Wells Fargo & Company reduced their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Finally, 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 report on Monday, February 3rd. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Trading Down 5.4 %

NYSE:NKE opened at $68.02 on Wednesday. The firm has a market capitalization of $100.60 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $74.70 and a 200 day moving average of $77.46. NIKE has a 52 week low of $65.17 and a 52 week high of $98.04.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. On average, research analysts predict that NIKE will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. NIKE’s dividend payout ratio is presently 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter valued at $28,000. Caitlin John LLC boosted its position in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the 3rd quarter worth about $30,000. Roxbury Financial LLC purchased a new stake in shares of NIKE in the fourth quarter valued at approximately $30,000. Finally, LFA Lugano Financial Advisors SA grew its stake in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.