Redburn Partners Begins Coverage on NIKE (NYSE:NKE)

Posted by Cynthia Vaughn on Mar 19th, 2023

Redburn Partners began coverage on shares of NIKE (NYSE:NKE – Get Rating) in a report issued on Thursday morning, MarketBeat.com reports. The brokerage issued a sell rating and a $100.00 target price on the footwear maker’s stock.

A number of other equities analysts have also commented on the company. Sanford C. Bernstein set a $122.00 price target on NIKE in a report on Monday, January 2nd. Cowen lifted their price objective on NIKE from $131.00 to $141.00 in a research note on Tuesday, January 10th. Credit Suisse Group set a $132.00 price objective on NIKE in a research note on Tuesday, January 3rd. Bank of America lifted their price objective on NIKE from $112.00 to $120.00 in a research note on Wednesday, December 21st. Finally, StockNews.com initiated coverage on NIKE in a research note on Thursday. They set a hold rating for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $129.66.

NIKE Price Performance

NIKE stock opened at $120.39 on Thursday. NIKE has a one year low of $82.22 and a one year high of $139.86. The business has a fifty day moving average price of $123.67 and a 200-day moving average price of $109.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.69 and a quick ratio of 1.78. The firm has a market capitalization of $186.67 billion, a P/E ratio of 33.91, a PEG ratio of 3.86 and a beta of 1.10.

NIKE (NYSE:NKE – Get Rating) last posted its quarterly earnings results on Tuesday, December 20th. The footwear maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.20. NIKE had a return on equity of 36.83% and a net margin of 11.47%. The firm had revenue of $13.32 billion during the quarter, compared to analyst estimates of $12.61 billion. As a group, equities research analysts forecast that NIKE will post 3.15 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 6th will be issued a $0.34 dividend. The ex-dividend date is Friday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 1.13%. NIKE’s dividend payout ratio is currently 38.31%.

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 5,000 shares of the business’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the transaction, the executive vice president now owns 60,213 shares in the company, valued at approximately $7,466,412. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Monique S. Matheson sold 5,000 shares of the business’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the transaction, the executive vice president now owns 60,213 shares in the company, valued at approximately $7,466,412. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter B. Henry purchased 557 shares of NIKE stock in a transaction that occurred on Tuesday, February 7th. The shares were acquired at an average price of $125.45 per share, for a total transaction of $69,875.65. Following the acquisition, the director now owns 4,062 shares in the company, valued at $509,577.90. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Accel Wealth Management boosted its position in NIKE by 80.6% during the 4th quarter. Accel Wealth Management now owns 224 shares of the footwear maker’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Legend Financial Advisors Inc. boosted its position in NIKE by 164.8% during the 4th quarter. Legend Financial Advisors Inc. now owns 241 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 150 shares in the last quarter. Turim 21 Investimentos Ltda. boosted its position in NIKE by 821.1% during the 3rd quarter. Turim 21 Investimentos Ltda. now owns 350 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 312 shares in the last quarter. Financial Freedom LLC bought a new stake in NIKE during the 4th quarter valued at approximately $29,000. Finally, Ruedi Wealth Management Inc. bought a new stake in NIKE during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 63.20% of the company’s stock.

NIKE Company Profile

(Get Rating)

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.