NIKE, Inc. (NYSE:NKE) Receives $114.81 Average Price Target from Analysts

NIKE, Inc. (NYSE:NKE) has earned a consensus recommendation of “Hold” from the thirty brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $98.96.

NKE has been the topic of a number of recent analyst reports. HSBC lowered their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday. Piper Sandler reduced their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 price target (down previously from $114.00) on shares of NIKE in a research note on Friday. Guggenheim reduced their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Williams Trading restated a “sell” rating and issued a $85.00 target price (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,660 shares of company stock valued at $19,946,333. Company insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Hedge funds have recently modified their holdings of the business. Tiemann Investment Advisors LLC lifted its position in NIKE by 3.1% during the 3rd quarter. Tiemann Investment Advisors LLC now owns 3,340 shares of the footwear maker’s stock valued at $319,000 after acquiring an additional 100 shares during the period. Piscataqua Savings Bank lifted its holdings in shares of NIKE by 2.1% during the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after purchasing an additional 100 shares during the last quarter. Physicians Financial Services Inc. boosted its position in shares of NIKE by 0.6% in the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after purchasing an additional 100 shares in the last quarter. ZWJ Investment Counsel Inc. grew its stake in shares of NIKE by 4.0% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after buying an additional 100 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its stake in NIKE by 0.4% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after buying an additional 100 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 20.0 %

Shares of NKE stock opened at $75.37 on Friday. The company has a market capitalization of $113.76 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. NIKE has a 52-week low of $74.55 and a 52-week high of $123.39. The business’s fifty day moving average is $93.28 and its 200 day moving average is $99.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. On average, equities research analysts anticipate that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

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.