NIKE, Inc. (NYSE:NKE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of NIKE, Inc. (NYSE:NKE) have earned a consensus recommendation of “Moderate Buy” from the thirty-three brokerages that are covering the company, MarketBeat.com reports. Fifteen analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $85.15.

NKE has been the subject of several analyst reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research note on Monday, March 17th. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Royal Bank of Canada decreased their target price on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Friday, March 21st. Truist Financial lowered their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th.

NIKE Price Performance

NIKE stock opened at $55.73 on Friday. The stock has a market capitalization of $82.44 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.52 and a beta of 1.15. NIKE has a 12-month low of $52.28 and a 12-month high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm’s 50-day moving average is $68.39 and its two-hundred day moving average is $73.85.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the business earned $0.98 earnings per share. NIKE’s revenue was down 9.1% compared to the same quarter last year. Equities analysts predict that NIKE will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s payout ratio is 53.16%.

Insider Activity

In other news, Director Robert Holmes Swan acquired 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred 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 transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of NIKE during the fourth quarter worth $1,126,288,000. Wellington Management Group LLP raised its stake in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the period. Pacer Advisors Inc. lifted its holdings in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. 64.25% of the stock is currently owned by 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.