NIKE, Inc. (NYSE:NKE) Given Average Recommendation of “Moderate Buy” by Brokerages

NIKE, Inc. (NYSE:NKE) has been given an average rating of “Moderate Buy” by the thirty-three research firms that are presently covering the stock, MarketBeat reports. Sixteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $80.26.

A number of equities research analysts have weighed in on NKE shares. JPMorgan Chase & Co. reduced their target price on NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Cfra Research upgraded NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Stifel Nicolaus decreased their target price on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Piper Sandler lowered their target price on NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, The Goldman Sachs Group dropped their target price on shares of NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Acorns Advisers LLC grew its stake in NIKE by 39.4% during the first quarter. Acorns Advisers LLC now owns 4,846 shares of the footwear maker’s stock worth $308,000 after purchasing an additional 1,369 shares during the period. Belpointe Asset Management LLC boosted its holdings in shares of NIKE by 43.9% during the 1st quarter. Belpointe Asset Management LLC now owns 6,024 shares of the footwear maker’s stock worth $382,000 after buying an additional 1,838 shares in the last quarter. Focus Partners Wealth grew its position in shares of NIKE by 28.1% during the 1st quarter. Focus Partners Wealth now owns 359,927 shares of the footwear maker’s stock worth $22,851,000 after buying an additional 78,886 shares during the period. Flaharty Asset Management LLC bought a new stake in shares of NIKE in the 1st quarter valued at $65,000. Finally, Integrity Alliance LLC. bought a new stake in shares of NIKE in the 1st quarter valued at $238,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Up 0.7%

Shares of NIKE stock opened at $62.49 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE has a 12-month low of $52.28 and a 12-month high of $98.04. The company has a market capitalization of $92.43 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.52 and a beta of 1.23. The firm’s 50-day moving average price is $60.63 and its two-hundred day moving average price is $70.49.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business 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 posted $0.98 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts forecast that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.56%. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

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.