Shares of NIKE, Inc. (NYSE:NKE – Get Free Report) have received an average recommendation of “Hold” from the thirty-six analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $54.7970.
NKE has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price objective on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Williams Trading dropped their target price on shares of NIKE from $80.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Sanford C. Bernstein set a $72.00 target price on shares of NIKE and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. China Renaissance cut their target price on shares of NIKE from $74.60 to $50.30 and set a “hold” rating for the company in a research note on Thursday, April 2nd. Finally, Guggenheim reiterated a “buy” rating and issued a $60.00 price target (down from $74.00) on shares of NIKE in a report on Wednesday, July 1st.
Read Our Latest Stock Analysis on NIKE
Insider Activity
Hedge Funds Weigh In On NIKE
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of NIKE by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock worth $7,453,658,000 after acquiring an additional 1,702,342 shares in the last quarter. State Street Corp grew its holdings in shares of NIKE by 2.2% in the fourth quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after purchasing an additional 1,275,494 shares in the last quarter. Capital World Investors increased its position in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock worth $3,126,246,000 after purchasing an additional 6,830,938 shares during the last quarter. J. Stern & Co. LLP increased its position in NIKE by 49,010.4% in the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after purchasing an additional 47,956,692 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in NIKE by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock valued at $1,677,251,000 after purchasing an additional 233,925 shares in the last quarter. 64.25% of the stock is owned by institutional investors.
NIKE Stock Performance
NYSE NKE opened at $43.78 on Monday. The firm has a market cap of $64.83 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 2.53 and a beta of 1.12. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $43.67 and a 200-day moving average price of $51.79. NIKE has a twelve month low of $40.00 and a twelve month high of $80.17.
NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the company earned $0.14 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts predict that NIKE will post 1.75 EPS for the current fiscal year.
NIKE Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. NIKE’s dividend payout ratio (DPR) is presently 78.47%.
About NIKE
Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.
The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).
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