NIKE, Inc. (NYSE:NKE) Receives $82.24 Consensus Price Target from Analysts

by · The Markets Daily

Shares of NIKE, Inc. (NYSE:NKE – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the thirty-six research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $82.2414.

A number of equities analysts recently commented on NKE shares. Wells Fargo & Company upgraded NIKE from a “sector perform” rating to an “overweight” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of NIKE in a research report on Monday. Morgan Stanley set a $72.00 target price on NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Barclays set a $70.00 price target on NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. Finally, Stifel Nicolaus set a $68.00 price objective on shares of NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st.

Check Out Our Latest Analysis on NKE

NIKE Price Performance

Shares of NKE opened at $64.98 on Friday. The company has a market cap of $96.06 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.41 and a beta of 1.28. NIKE has a 1-year low of $52.28 and a 1-year high of $82.44. The company’s fifty day simple moving average is $66.29 and its 200 day simple moving average is $69.13. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. On average, research analysts forecast that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from NIKE’s previous quarterly dividend of $0.40. NIKE’s payout ratio is presently 84.10%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the transaction, the chairman directly owned 647,615 shares of the company’s stock, valued at $41,965,452. This represents a 11.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Soltis Investment Advisors LLC raised its holdings in shares of NIKE by 238.8% during the 2nd quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock worth $10,042,000 after buying an additional 99,638 shares in the last quarter. Banco Santander S.A. raised its stake in NIKE by 28.3% during the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after acquiring an additional 48,764 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of NIKE by 0.6% in the second quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock worth $8,086,042,000 after acquiring an additional 672,705 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of NIKE in the first quarter worth about $25,963,000. Finally, BROOKFIELD Corp ON boosted its stake in shares of NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after purchasing an additional 175,000 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

About NIKE

(Get Free Report)

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.

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