Analysts Set NIKE, Inc. (NYSE:NKE) PT at $81.57

Shares of NIKE, Inc. (NYSE:NKE) have earned a consensus recommendation of “Moderate Buy” from the thirty-six research firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $82.2069.

NKE has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Piper Sandler set a $84.00 price target on shares of NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Bank of America upped their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Finally, Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the period. Park Avenue Securities LLC boosted its position in NIKE by 12.1% during the first quarter. Park Avenue Securities LLC now owns 16,705 shares of the footwear maker’s stock valued at $1,060,000 after buying an additional 1,806 shares during the period. Harbor Capital Advisors Inc. boosted its position in NIKE by 32.1% during the first quarter. Harbor Capital Advisors Inc. now owns 21,766 shares of the footwear maker’s stock valued at $1,382,000 after buying an additional 5,291 shares during the period. GAMMA Investing LLC boosted its position in NIKE by 39.1% during the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after buying an additional 5,863 shares during the period. Finally, Simon Quick Advisors LLC boosted its position in NIKE by 21.0% during the first quarter. Simon Quick Advisors LLC now owns 3,986 shares of the footwear maker’s stock valued at $253,000 after buying an additional 691 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.2%

Shares of NKE stock opened at $68.45 on Friday. The company’s fifty day simple moving average is $73.38 and its two-hundred day simple moving average is $67.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE has a 1 year low of $52.28 and a 1 year high of $84.76. The stock has a market capitalization of $101.18 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 2.49 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts anticipate that NIKE will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. NIKE’s dividend payout ratio is presently 82.05%.

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.