Nike (NYSE:NKE) Given Buy Rating at BMO Capital Markets
BMO Capital Markets reissued their buy rating on shares of Nike (NYSE:NKE) in a research report sent to investors on Friday morning, Stock Target Advisor reports. BMO Capital Markets currently has a $100.00 price objective on the footwear maker’s stock.
Several other research firms also recently commented on NKE. Piper Sandler increased their price objective on Nike from $96.00 to $112.00 and gave the company an overweight rating in a research note on Monday, June 22nd. JPMorgan Chase & Co. reiterated a buy rating and issued a $118.00 target price on shares of Nike in a research report on Friday. Oppenheimer began coverage on shares of Nike in a research report on Friday, May 15th. They set a buy rating and a $115.00 price target on the stock. Raymond James increased their price objective on shares of Nike from $100.00 to $115.00 and gave the company an outperform rating in a report on Wednesday, June 17th. Finally, Wells Fargo & Co boosted their target price on Nike from $99.00 to $110.00 and gave the stock an overweight rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $108.96.
NKE opened at $95.87 on Friday. The company has a market cap of $148.25 billion, a PE ratio of 60.68, a price-to-earnings-growth ratio of 3.05 and a beta of 0.78. Nike has a twelve month low of $60.00 and a twelve month high of $105.62. The company has a 50-day moving average price of $96.23 and a 200 day moving average price of $93.53. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.69.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given 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 is presently 52.97%.
In other news, Chairman Mark G. Parker sold 165,000 shares of Nike stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $99.14, for a total value of $16,358,100.00. Following the completion of the transaction, the chairman now owns 2,012,954 shares in the company, valued at approximately $199,564,259.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew Campion sold 60,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $98.00, for a total value of $5,880,000.00. The disclosure for this sale can be found here. Insiders have sold 236,000 shares of company stock worth $23,228,100 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Solstein Capital LLC acquired a new stake in shares of Nike in the 4th quarter valued at $236,000. 1832 Asset Management L.P. increased its holdings in Nike by 81.7% in the fourth quarter. 1832 Asset Management L.P. now owns 4,485,657 shares of the footwear maker’s stock valued at $454,422,000 after buying an additional 2,016,633 shares during the last quarter. Fosun International Ltd increased its holdings in Nike by 27.9% in the fourth quarter. Fosun International Ltd now owns 24,387 shares of the footwear maker’s stock valued at $2,477,000 after buying an additional 5,320 shares during the last quarter. Balentine LLC acquired a new stake in Nike in the first quarter valued at $128,000. Finally, Magellan Asset Management Ltd lifted its holdings in Nike by 88.9% during the 4th quarter. Magellan Asset Management Ltd now owns 663 shares of the footwear maker’s stock worth $67,000 after buying an additional 312 shares during the last quarter. Institutional investors own 64.54% of the company’s stock.
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.
Featured Article: How are dividend achievers different from dividend aristocrats?
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.