NIKE (NYSE:NKE) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of NIKE (NYSE:NKE) in a report issued on Tuesday morning, Benzinga reports. They currently have a $115.00 price objective on the footwear maker’s stock. Wedbush also issued estimates for NIKE’s Q1 2025 earnings at $0.84 EPS.

A number of other analysts have also recently commented on the company. Robert W. Baird reduced their price target on NIKE from $140.00 to $125.00 and set an outperform rating for the company in a research report on Friday, March 22nd. HSBC decreased their target price on shares of NIKE from $120.00 to $115.00 and set a hold rating on the stock in a research note on Monday, January 22nd. Bank of America raised shares of NIKE from a neutral rating to a buy rating and increased their price objective for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. TheStreet cut shares of NIKE from a b rating to a c+ rating in a research note on Tuesday, January 9th. Finally, Oppenheimer lowered NIKE from an outperform rating to a market perform rating and set a $110.00 price target for the company. in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $116.26.

NIKE Stock Performance

NKE opened at $92.15 on Tuesday. The company’s 50 day moving average is $96.00 and its 200 day moving average is $103.11. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company has a market cap of $139.09 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.74 and a beta of 1.07. NIKE has a 12-month low of $88.66 and a 12-month high of $127.69.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, equities research analysts predict that NIKE will post 3.73 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. NIKE’s dividend payout ratio is 43.53%.

Hedge Funds Weigh In On NIKE

A number of large investors have recently bought and sold shares of the business. Norges Bank purchased a new position in NIKE in the 4th quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD grew its stake in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Capital International Investors raised its stake in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares in the last quarter. Newport Trust Company LLC purchased a new stake in shares of NIKE in the third quarter valued at approximately $679,775,000. Finally, Flossbach Von Storch AG grew its stake in NIKE by 433.5% in the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after purchasing an additional 3,354,677 shares in the last quarter. Hedge funds and other 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.