NIKE, Inc. (NYSE:NKE) Receives Average Rating of “Hold” from Brokerages

Shares of NIKE, Inc. (NYSE:NKE) have been given a consensus rating of “Hold” by the twenty-nine research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $96.44.

A number of equities research analysts have issued reports on the stock. Evercore ISI reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. KeyCorp reissued a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. BMO Capital Markets reduced their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $88.00 target price (down previously from $117.00) on shares of NIKE in a research note on Friday, June 28th.

Insider Activity at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s 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 sale, 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. Insiders have sold 323,660 shares of company stock worth $27,973,033 over the last ninety days. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors have recently added to or reduced their stakes in the business. Piscataqua Savings Bank increased its stake in shares of NIKE by 2.1% in the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after acquiring an additional 100 shares in the last quarter. Physicians Financial Services Inc. raised its holdings in shares of NIKE by 0.6% during the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after purchasing an additional 100 shares during the period. ZWJ Investment Counsel Inc. boosted its position in shares of NIKE by 4.0% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after purchasing an additional 100 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in shares of NIKE by 0.4% in the 4th 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 period. Finally, Claro Advisors LLC increased its position in NIKE by 0.8% in the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock valued at $1,327,000 after buying an additional 101 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Down 3.1 %

Shares of NKE stock opened at $71.13 on Thursday. The stock has a market cap of $107.36 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.01. NIKE has a 1 year low of $71.08 and a 1 year high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $86.30 and a 200 day simple moving average of $94.12.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts predict that NIKE will post 3.12 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend 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.