Shares of NIKE, Inc. (NYSE:NKE) have been assigned an average recommendation of “Buy” from the thirty-seven research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and thirty have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $159.89.
A number of research analysts have commented on NKE shares. Argus increased their price objective on NIKE from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, December 22nd. Cowen increased their price objective on NIKE from $170.00 to $173.00 and gave the company an “outperform” rating in a research report on Tuesday, March 23rd. JPMorgan Chase & Co. increased their price objective on NIKE from $170.00 to $176.00 and gave the company an “overweight” rating in a research report on Thursday, March 25th. Pivotal Research increased their price objective on NIKE from $160.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, March 16th. Finally, Royal Bank of Canada raised their price target on NIKE from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, March 25th.
In related news, Chairman Mark G. Parker sold 114,094 shares of NIKE stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $130.67, for a total transaction of $14,908,662.98. Following the completion of the transaction, the chairman now owns 1,537,729 shares in the company, valued at $200,935,048.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of NKE. United Bank boosted its holdings in shares of NIKE by 4.7% during the third quarter. United Bank now owns 14,263 shares of the footwear maker’s stock worth $1,791,000 after acquiring an additional 642 shares during the period. Gladstone Institutional Advisory LLC bought a new stake in shares of NIKE during the third quarter worth approximately $445,000. Mattern Capital Management LLC boosted its holdings in shares of NIKE by 1.2% during the third quarter. Mattern Capital Management LLC now owns 44,849 shares of the footwear maker’s stock worth $5,630,000 after acquiring an additional 548 shares during the period. Engineers Gate Manager LP boosted its holdings in shares of NIKE by 28.5% during the third quarter. Engineers Gate Manager LP now owns 33,127 shares of the footwear maker’s stock worth $4,159,000 after acquiring an additional 7,357 shares during the period. Finally, Harding Loevner LP boosted its holdings in shares of NIKE by 1.8% during the third quarter. Harding Loevner LP now owns 2,997,133 shares of the footwear maker’s stock worth $376,260,000 after acquiring an additional 52,314 shares during the period. Institutional investors and hedge funds own 64.20% of the company’s stock.
NKE stock opened at $136.54 on Monday. The business has a fifty day moving average price of $136.90 and a 200 day moving average price of $135.02. NIKE has a fifty-two week low of $83.61 and a fifty-two week high of $147.95. The stock has a market capitalization of $215.25 billion, a price-to-earnings ratio of 78.02, a P/E/G ratio of 2.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.66 and a quick ratio of 1.97.
NIKE (NYSE:NKE) last released its quarterly earnings results on Wednesday, March 17th. The footwear maker reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.15. NIKE had a return on equity of 34.89% and a net margin of 7.39%. The firm had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.98 billion. During the same period last year, the firm posted $0.78 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts expect that NIKE will post 2.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 1st were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, February 26th. NIKE’s payout ratio is currently 59.46%.
NIKE Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
Further Reading: What are the Benefits of Index Funds?
Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.