NIKE, Inc. (NYSE:NKE) Receives $54.80 Average Target Price from Analysts

Shares of NIKE, Inc. (NYSE:NKE) have been assigned an average rating of “Hold” from the thirty-five analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, nineteen have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $54.7970.

Several research firms have issued reports on NKE. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Williams Trading decreased their price objective on shares of NIKE from $80.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Sanford C. Bernstein set a $72.00 price objective on shares of NIKE and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Weiss Ratings cut shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. Finally, Piper Sandler cut their target price on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st.

NIKE Stock Down 0.1%

NYSE:NKE opened at $42.80 on Monday. NIKE has a twelve month low of $40.00 and a twelve month high of $80.17. The firm has a market capitalization of $63.38 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 2.47 and a beta of 1.12. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $43.67 and its two-hundred day moving average price is $52.03.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter in the prior year, the firm posted $0.14 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts expect that NIKE will post 1.76 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s payout ratio is 78.47%.

Insider Transactions at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Large investors have recently added to or reduced their stakes in the business. Scarborough Advisors LLC bought a new position in shares of NIKE in the first quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new stake in shares of NIKE during the 4th quarter worth about $26,000. Sankala Group LLC bought a new stake in shares of NIKE during the 4th quarter worth about $26,000. Meeder Asset Management Inc. grew its stake in NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after buying an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in NIKE in the 4th quarter valued at about $29,000. Institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).