NIKE, Inc. (NYSE:NKE) Receives $95.59 Average Target Price from Analysts

Shares of NIKE, Inc. (NYSE:NKE) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are covering the firm, Marketbeat.com reports. Thirteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $95.59.

A number of analysts recently issued reports on the company. Telsey Advisory Group lowered their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Truist Financial lowered their target price on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, August 23rd. Bank of America decreased their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Barclays cut shares of NIKE from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $109.00 to $80.00 in a research note on Friday, June 28th.

NIKE Trading Down 0.2 %

Shares of NIKE stock opened at $80.63 on Friday. The company’s fifty day moving average price is $76.94 and its two-hundred day moving average price is $88.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a market capitalization of $121.70 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.19 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 the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts expect that NIKE will post 3.1 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.84%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 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 disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently bought and sold shares of the stock. Beta Wealth Group Inc. lifted its position in shares of NIKE by 2.3% in the fourth quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock worth $489,000 after buying an additional 101 shares in the last quarter. Kampmann Melissa S. raised its stake in shares of NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after acquiring an additional 115 shares in the last quarter. Ascent Wealth Partners LLC raised its stake in shares of NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after acquiring an additional 115 shares in the last quarter. Condor Capital Management raised its stake in shares of NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares in the last quarter. Finally, Bell Investment Advisors Inc grew its position in NIKE by 4.7% during the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after purchasing an additional 118 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.