NIKE, Inc. (NYSE:NKE) Given Consensus Recommendation of “Hold” by Brokerages

NIKE, Inc. (NYSE:NKE) has earned an average recommendation of “Hold” from the thirty ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $96.44.

A number of research analysts recently commented on the stock. HSBC lowered their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Morgan Stanley reissued an “equal weight” rating and issued a $79.00 target price (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Citigroup decreased their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Evercore ISI decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 target price (down from $116.00) on shares of NIKE in a research report on Friday, June 28th.

Insider Activity at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were 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 owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were 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 owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders sold a total of 323,660 shares of company stock worth $27,973,033 in the last ninety days. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NIKE

Several large investors have recently made changes to their positions in the company. Piscataqua Savings Bank grew its holdings 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 worth $528,000 after purchasing an additional 100 shares during the last quarter. Physicians Financial Services Inc. grew its holdings 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 during the last quarter. ZWJ Investment Counsel Inc. grew its holdings 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 purchasing an additional 100 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings 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 worth $2,776,000 after purchasing an additional 100 shares during the last quarter. Finally, Claro Advisors LLC grew its holdings in shares of NIKE by 0.8% in the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 3.0 %

NKE stock opened at $74.86 on Thursday. The company’s 50 day simple moving average is $87.10 and its 200-day simple moving average is $94.49. NIKE has a 52-week low of $71.24 and a 52-week high of $123.39. The firm has a market capitalization of $112.99 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.89 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that NIKE will post 3.12 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.98%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

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.