NIKE, Inc. (NYSE:NKE) Receives $87.38 Consensus Target Price from Brokerages

NIKE, Inc. (NYSE:NKE) has been given an average recommendation of “Moderate Buy” by the thirty-two ratings firms that are covering the firm, Marketbeat.com reports. Fourteen analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $87.38.

NKE has been the topic of a number of research reports. China Renaissance assumed coverage on shares of NIKE in a report on Wednesday, March 19th. They issued a “hold” rating on the stock. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Evercore ISI cut their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Truist Financial decreased their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently bought and sold shares of NKE. Norges Bank acquired a new stake in shares of NIKE in the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP increased its holdings in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. raised its stake in NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after buying an additional 6,709,985 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after buying an additional 6,507,856 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $63.32 on Tuesday. The company has a 50-day moving average price of $74.16 and a 200-day moving average price of $76.93. NIKE has a 52 week low of $63.14 and a 52 week 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 $93.65 billion, a P/E ratio of 19.54, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping 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 company had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period last year, the firm earned $0.98 EPS. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. Equities research analysts anticipate that NIKE will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. NIKE’s dividend payout ratio (DPR) is 53.16%.

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.