NIKE, Inc. (NYSE:NKE) Receives $95.59 Consensus Target Price from Brokerages

Shares of NIKE, Inc. (NYSE:NKE) have earned a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are covering the company, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $95.59.

A number of equities research analysts have commented on the company. Raymond James reiterated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Wells Fargo & Company decreased their price target on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Truist Financial decreased their price target on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and increased their price target for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Finally, Stifel Nicolaus reduced their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th.

NIKE Price Performance

Shares of NKE stock opened at $78.40 on Friday. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The stock’s 50-day moving average is $77.16 and its 200 day moving average is $88.05. The company has a market cap of $117.55 billion, a P/E ratio of 21.02, a PEG ratio of 2.08 and a beta of 1.02. 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 (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts predict that NIKE will post 3.06 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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 1.89%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were 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 directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of NIKE

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after acquiring an additional 501,792 shares during the last quarter. Capital International Investors boosted its stake in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of NIKE by 87.5% in the fourth 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 during the last quarter. Norges Bank acquired a new stake in shares of NIKE in the fourth quarter worth approximately $1,315,097,000. Finally, Legal & General Group Plc boosted its stake in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after acquiring an additional 571,544 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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.