Wedbush Reaffirms Outperform Rating for NIKE (NYSE:NKE)

Wedbush reiterated their outperform rating on shares of NIKE (NYSE:NKE) in a research note published on Tuesday morning, Benzinga reports. They currently have a $115.00 target price on the footwear maker’s stock. Wedbush also issued estimates for NIKE’s Q1 2025 earnings at $0.84 EPS.

NKE has been the topic of several other research reports. Bank of America upgraded shares of NIKE from a neutral rating to a buy rating and boosted their price target for the company from $110.00 to $113.00 in a research report on Thursday, April 11th. Piper Sandler dropped their target price on shares of NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a report on Friday, March 22nd. Citigroup decreased their target price on shares of NIKE from $135.00 to $125.00 and set a buy rating for the company in a research note on Thursday, March 14th. Jefferies Financial Group dropped their price target on NIKE from $110.00 to $100.00 and set a hold rating on the stock in a research report on Friday, March 22nd. Finally, Evercore ISI lowered their price objective on NIKE from $127.00 to $117.00 and set an outperform rating for the company in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $116.26.

NIKE Trading Down 0.3 %

NYSE:NKE traded down $0.26 during mid-day trading on Tuesday, reaching $92.15. 5,736,030 shares of the company’s stock traded hands, compared to its average volume of 9,280,863. The company has a 50 day moving average price of $96.00 and a 200-day moving average price of $103.11. The firm has a market capitalization of $139.09 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.74 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE has a 12-month low of $88.66 and a 12-month high of $127.69.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, sell-side analysts predict that NIKE will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of NIKE in the fourth quarter worth $1,315,097,000. Price T Rowe Associates Inc. MD boosted its holdings in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the period. Capital International Investors increased its stake in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Newport Trust Company LLC bought a new stake in NIKE during the third quarter valued at about $679,775,000. Finally, Flossbach Von Storch AG lifted its position in shares of NIKE by 433.5% in the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after acquiring an additional 3,354,677 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

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.