NIKE, Inc. (NYSE:NKE) Receives $87.38 Consensus Target Price from Analysts

NIKE, Inc. (NYSE:NKE) has earned a consensus recommendation of “Moderate Buy” from the thirty-two brokerages that are currently covering the company, Marketbeat Ratings reports. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $87.38.

Several analysts have issued reports on NKE shares. Bank of America dropped their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Wells Fargo & Company cut their price target on NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. BMO Capital Markets cut their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. decreased their price target on NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Trading of NIKE

A number of hedge funds have recently made changes to their positions in NKE. Norges Bank bought a new stake in shares of NIKE during the fourth quarter valued at approximately $1,126,288,000. Wellington Management Group LLP increased its holdings in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P boosted 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 valued at $575,342,000 after buying an additional 6,507,856 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 3.8 %

NYSE:NKE opened at $63.32 on Tuesday. 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 stock has a fifty day simple moving average of $74.16 and a 200-day simple moving average of $76.93. The company has a market cap of $93.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE has a twelve month low of $63.14 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. Analysts anticipate that NIKE will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. NIKE’s dividend payout ratio is presently 53.16%.

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.