NIKE, Inc. (NYSE:NKE) Receives $80.11 Consensus PT from Analysts

NIKE, Inc. (NYSE:NKE) has been assigned a consensus recommendation of “Moderate Buy” from the thirty-three ratings firms that are covering the firm, Marketbeat.com reports. Sixteen research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $80.30.

A number of research analysts recently issued reports on NKE shares. Royal Bank of Canada dropped their price target on NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. decreased their price objective on NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. Wells Fargo & Company increased their price objective on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Berenberg Bank initiated coverage on NIKE in a research report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price objective for the company. Finally, The Goldman Sachs Group decreased their price objective on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd.

NIKE Trading Up 1.2%

NYSE:NKE opened at $63.13 on Wednesday. The stock’s 50 day moving average price is $61.07 and its 200 day moving average price is $70.66. The company has a market capitalization of $93.38 billion, a PE ratio of 19.48, a P/E/G ratio of 2.52 and a beta of 1.23. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE has a 52-week low of $52.28 and a 52-week high of $98.04.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, research analysts anticipate that NIKE will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.53%. NIKE’s dividend payout ratio is presently 53.16%.

Insider Buying and Selling

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stone House Investment Management LLC acquired a new position in NIKE during the first quarter worth $25,000. Heck Capital Advisors LLC purchased a new position in NIKE during the fourth quarter worth $28,000. Caitlin John LLC increased its position in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Roxbury Financial LLC purchased a new position in NIKE during the fourth quarter worth $30,000. Finally, LFA Lugano Financial Advisors SA increased its position in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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.