NIKE, Inc. (NYSE:NKE) Receives $96.30 Consensus Price Target from Analysts

NIKE, Inc. (NYSE:NKE) has earned a consensus rating of “Moderate Buy” from the thirty analysts that are presently covering the stock, MarketBeat reports. Thirteen equities research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $95.86.

A number of research firms recently issued reports on NKE. Royal Bank of Canada dropped their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Needham & Company LLC began coverage on shares of NIKE in a report on Friday. They issued a “buy” rating and a $84.00 price objective on the stock. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Finally, Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ING Groep NV purchased a new stake in shares of NIKE during the 3rd quarter worth approximately $29,628,000. Cordatus Wealth Management LLC boosted its stake in shares of NIKE by 19.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after acquiring an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC boosted its stake in shares of NIKE by 14.3% during the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares in the last quarter. WoodTrust Financial Corp boosted its stake in shares of NIKE by 19.9% during the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after acquiring an additional 16,303 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its stake in NIKE by 44.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after buying an additional 60,008 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 3.1 %

NYSE:NKE opened at $77.40 on Wednesday. The firm has a market cap of $116.05 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.80 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm has a 50-day simple moving average of $80.51 and a two-hundred day simple moving average of $82.67.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Analysts predict that NIKE will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.07%. NIKE’s payout ratio is presently 42.41%.

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.