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

Shares of NIKE, Inc. (NYSE:NKE) have earned an average rating of “Moderate Buy” from the thirty-two brokerages that are currently covering the company, Marketbeat.com reports. Fourteen research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $87.38.

A number of research firms recently weighed in on NKE. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Stifel Nicolaus cut their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Truist Financial decreased their target price on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 target price on shares of NIKE in a research report on Monday, March 17th. Finally, Royal Bank of Canada lowered their price target on NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday.

NIKE Price Performance

Shares of NYSE NKE opened at $67.45 on Tuesday. NIKE has a twelve month low of $65.17 and a twelve month high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $99.76 billion, a P/E ratio of 20.82, a P/E/G ratio of 2.52 and a beta of 1.02. The stock’s 50-day simple moving average is $74.61 and its two-hundred day simple moving average is $77.31.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.37%. NIKE’s dividend payout ratio is presently 53.16%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NKE. Prostatis Group LLC raised its holdings in NIKE by 29.9% in the 4th quarter. Prostatis Group LLC now owns 13,705 shares of the footwear maker’s stock valued at $1,037,000 after acquiring an additional 3,153 shares during the period. Centaurus Financial Inc. increased its stake in shares of NIKE by 9.6% in the fourth quarter. Centaurus Financial Inc. now owns 2,258 shares of the footwear maker’s stock valued at $171,000 after buying an additional 198 shares during the period. Aegis Wealth Management LLC bought a new position in NIKE during the 4th quarter worth $295,000. Copia Wealth Management acquired a new position in shares of NIKE in the 4th quarter worth approximately $358,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of NIKE during the 4th quarter valued at about $57,000. Institutional investors own 64.25% of the company’s stock.

About NIKE

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.