NIKE, Inc. (NYSE:NKE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

NIKE, Inc. (NYSE:NKE) has earned an average recommendation of “Moderate Buy” from the twenty-nine analysts that are presently covering the firm, MarketBeat reports. Thirteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $96.56.

A number of equities research analysts have commented on NKE shares. Evercore ISI decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target on shares of NIKE in a report on Friday, September 20th. The Goldman Sachs Group reduced their price target on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Telsey Advisory Group decreased their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd.

NIKE Price Performance

NYSE:NKE opened at $78.85 on Friday. The business’s 50-day moving average price is $82.79 and its 200 day moving average price is $85.06. The firm has a market cap of $118.22 billion, a P/E ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. As a group, sell-side analysts predict that NIKE will post 2.78 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 42.41%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its holdings in NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares during the last quarter. FORA Capital LLC bought a new position in NIKE in the first quarter valued at about $3,412,000. Lafayette Investments Inc. boosted its holdings in NIKE by 90.7% in the third quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock valued at $4,075,000 after acquiring an additional 21,922 shares during the last quarter. Cetera Advisors LLC boosted its holdings in NIKE by 85.5% in the first quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after acquiring an additional 40,704 shares during the last quarter. Finally, Koshinski Asset Management Inc. bought a new position in NIKE in the first quarter valued at about $713,000. Institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

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.