NIKE (NKE) – Research Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for NIKE (NYSE: NKE):

• 9/30/2024 – NIKE had its price target raised by analysts at Jefferies Financial Group Inc. from $80.00 to $85.00. They now have a “hold” rating on the stock.
• 9/25/2024 – NIKE had its price target raised by analysts at Royal Bank of Canada from $75.00 to $85.00. They now have a “sector perform” rating on the stock.
• 9/25/2024 – NIKE had its price target raised by analysts at Morgan Stanley from $79.00 to $82.00. They now have an “equal weight” rating on the stock.
• 9/23/2024 – NIKE had its price target lowered by analysts at JPMorgan Chase & Co. from $83.00 to $80.00. They now have a “neutral” rating on the stock.
• 9/23/2024 – NIKE had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $104.00 price target on the stock.
• 9/20/2024 – NIKE had its price target raised by analysts at Wells Fargo & Company from $86.00 to $95.00. They now have an “overweight” rating on the stock.
• 9/20/2024 – NIKE had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $100.00 price target on the stock.
• 9/20/2024 – NIKE had its price target raised by analysts at Evercore ISI from $105.00 to $110.00. They now have an “outperform” rating on the stock.
• 9/20/2024 – NIKE had its price target raised by analysts at Robert W. Baird from $100.00 to $110.00. They now have an “outperform” rating on the stock.
• 9/20/2024 – NIKE had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $80.00 price target on the stock.
• 9/20/2024 – NIKE had its price target raised by analysts at Truist Financial Co. from $81.00 to $85.00. They now have a “hold” rating on the stock.
• 9/20/2024 – NIKE had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $79.00 price target on the stock.
• 9/20/2024 – NIKE had its “buy” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $92.00 price target on the stock.
• 9/19/2024 – NIKE had its price target lowered by analysts at Sanford C. Bernstein from $112.00 to $109.00. They now have an “outperform” rating on the stock.
• 9/18/2024 – NIKE had its price target raised by analysts at Barclays PLC from $80.00 to $84.00. They now have an “equal weight” rating on the stock.
• 9/11/2024 – NIKE was downgraded by analysts at Daiwa America from a “moderate buy” rating to a “hold” rating.
• 8/26/2024 – NIKE had its price target lowered by analysts at Stifel Nicolaus from $88.00 to $79.00. They now have a “hold” rating on the stock.
• 8/23/2024 – NIKE had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $80.00 price target on the stock.
• 8/16/2024 – NIKE was upgraded by analysts at Williams Trading from a “sell” rating to a “buy” rating. They now have a $93.00 price target on the stock, up previously from $67.00.

NIKE Stock Performance

NYSE NKE traded down $1.08 on Monday, reaching $88.37. The stock had a trading volume of 12,027,713 shares, compared to its average volume of 11,596,598. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The business’s 50-day moving average price is $79.67 and its 200 day moving average price is $86.57. The stock has a market cap of $133.37 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. As a group, equities analysts expect that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.67%. NIKE’s payout ratio is currently 39.68%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the last quarter. Capital International Investors boosted its holdings in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD increased its position in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Legal & General Group Plc increased its position in NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of NIKE by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after buying an additional 211,360 shares during the period. 64.25% of the stock is currently owned by institutional investors.

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.