NIKE, Inc. (NYSE:NKE) Given Average Rating of “Moderate Buy” by Analysts

NIKE, Inc. (NYSE:NKE) has been given a consensus rating of “Moderate Buy” by the thirty research firms that are currently covering the company, Marketbeat reports. Thirteen analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $89.96.

NKE has been the subject of several research reports. TD Cowen reduced their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus decreased their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of NIKE in a report on Friday, December 20th.

NIKE Stock Performance

NYSE:NKE opened at $71.04 on Thursday. The firm has a market capitalization of $105.08 billion, a PE ratio of 21.93, a PEG ratio of 2.26 and a beta of 1.02. NIKE has a 1 year low of $70.53 and a 1 year high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $76.05 and its 200 day simple moving average is $78.06.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.25%. NIKE’s dividend payout ratio is 49.38%.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NKE. Loomis Sayles & Co. L P raised its position in shares of NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares during the last quarter. Assenagon Asset Management S.A. increased its position in NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after purchasing an additional 2,357,745 shares during the period. State Street Corp raised its holdings in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Holocene Advisors LP acquired a new position in NIKE during the 3rd quarter valued at about $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in NIKE during the 3rd quarter valued at about $144,927,000. Institutional investors own 64.25% of the company’s stock.

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.