NIKE, Inc. (NYSE:NKE) Receives $96.70 Consensus Target Price from Analysts

NIKE, Inc. (NYSE:NKE) has been given an average recommendation of “Moderate Buy” by the twenty-nine brokerages that are presently covering the company, Marketbeat reports. Fourteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $96.04.

Several research firms have recently weighed in on NKE. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Sanford C. Bernstein decreased their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Royal Bank of Canada cut their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday. KeyCorp restated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Wedbush cut their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th.

NIKE Stock Up 0.2 %

Shares of NKE opened at $82.25 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $80.90 and a two-hundred day moving average price of $86.15. The stock has a market cap of $124.14 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the company earned $0.94 EPS. NIKE’s revenue was down 10.4% on a year-over-year basis. Equities analysts predict that NIKE will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.80%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several large investors have recently modified their holdings of the business. Cim LLC bought a new stake in NIKE during the 4th quarter worth approximately $14,275,000. TKG Advisors LLC bought a new stake in shares of NIKE during the fourth quarter worth $1,012,000. Spartan Planning & Wealth Management acquired a new stake in shares of NIKE during the fourth quarter worth $182,000. Advisors Asset Management Inc. lifted its position in NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares in the last quarter. Finally, Enzi Wealth acquired a new position in NIKE in the 4th quarter worth $520,000. 64.25% of the stock is currently owned by institutional investors.

About NIKE

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.