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

NIKE, Inc. (NYSE:NKE) has received a consensus rating of “Moderate Buy” from the thirty-six brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $74.6129.

A number of equities analysts have recently weighed in on NKE shares. Argus lowered their price target on shares of NIKE from $85.00 to $70.00 in a research note on Tuesday, December 23rd. Berenberg Bank restated a “neutral” rating and set a $70.00 target price on shares of NIKE in a research report on Friday, December 19th. Oppenheimer reaffirmed an “outperform” rating on shares of NIKE in a report on Wednesday, December 17th. Piper Sandler set a $75.00 price target on NIKE and gave the stock an “overweight” rating in a research note on Friday, December 19th. Finally, UBS Group restated a “neutral” rating on shares of NIKE in a report on Monday, January 5th.

Insider Transactions at NIKE

In other news, CEO Elliott Hill bought 16,388 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the transaction, the chief executive officer owned 241,587 shares in the company, valued at $14,760,965.70. The trade was a 7.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Holmes Swan acquired 8,691 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were acquired at an average price of $57.54 per share, for a total transaction of $500,080.14. Following the acquisition, the director directly owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. The trade was a 25.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 75,079 shares of company stock worth $4,449,887 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J. Stern & Co. LLP raised its holdings in shares of NIKE by 49,010.4% during the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after buying an additional 47,956,692 shares during the last quarter. Norges Bank bought a new position in NIKE in the 4th quarter worth approximately $829,956,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in NIKE by 3,129.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,091,426 shares of the footwear maker’s stock valued at $645,855,000 after acquiring an additional 8,809,950 shares during the period. Harris Associates L P acquired a new stake in NIKE in the 2nd quarter valued at approximately $621,525,000. Finally, Capital World Investors raised its stake in NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 0.3%

Shares of NYSE:NKE opened at $65.76 on Friday. NIKE has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. The stock has a market cap of $97.35 billion, a P/E ratio of 38.68, a P/E/G ratio of 3.36 and a beta of 1.27. The firm has a fifty day moving average price of $63.51 and a 200 day moving average price of $67.54.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. Sell-side analysts predict that NIKE will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, March 2nd. NIKE’s dividend payout ratio is currently 96.47%.

About NIKE

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).