NIKE, Inc. (NYSE:NKE) Receives $62.34 Average Target Price from Analysts

NIKE, Inc. (NYSE:NKE) has been given an average rating of “Hold” by the thirty-six research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $62.3424.

Several research analysts recently issued reports on NKE shares. Truist Financial cut their target price on NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Weiss Ratings cut NIKE from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. BTIG Research cut their target price on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Bank of America reaffirmed a “neutral” rating and set a $55.00 target price (down from $73.00) on shares of NIKE in a research report on Wednesday, April 1st. Finally, Evercore cut their target price on NIKE from $69.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st.

NIKE Trading Up 0.1%

Shares of NIKE stock opened at $44.46 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. NIKE has a 52 week low of $42.09 and a 52 week high of $80.17. The stock has a 50 day moving average price of $51.39 and a two-hundred day moving average price of $59.65. The stock has a market capitalization of $65.85 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE will post 1.51 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. NIKE’s payout ratio is presently 108.61%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were bought at an average price of $43.34 per share, with a total value of $173,360.00. Following the completion of the transaction, the director directly owned 41,022 shares in the company, valued at approximately $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Elliott Hill bought 23,660 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The shares were bought at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the transaction, the chief executive officer owned 265,247 shares of the company’s stock, valued at $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 64,441 shares of company stock worth $2,734,204 in the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of NIKE

Hedge funds have recently bought and sold shares of the business. Mizuho Markets Cayman LP bought a new stake in shares of NIKE in the third quarter valued at $34,200,000. Strive Asset Management LLC bought a new stake in shares of NIKE in the third quarter valued at $1,743,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of NIKE in the fourth quarter valued at $43,188,000. Park National Corp OH raised its stake in shares of NIKE by 81.5% in the fourth quarter. Park National Corp OH now owns 431,055 shares of the footwear maker’s stock valued at $27,463,000 after buying an additional 193,514 shares during the period. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD raised its stake in shares of NIKE by 106.1% in the third quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 205,082 shares of the footwear maker’s stock valued at $14,343,000 after buying an additional 105,569 shares during the period. 64.25% of the stock is currently owned by institutional investors.

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).