NIKE, Inc. (NYSE:NKE) Receives $116.26 Consensus Target Price from Analysts

Shares of NIKE, Inc. (NYSE:NKE) have earned a consensus rating of “Moderate Buy” from the thirty-one research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and twenty have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $116.26.

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Barclays reduced their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Evercore ISI decreased their price objective on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Piper Sandler reduced their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Finally, TheStreet lowered shares of NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC increased its holdings in NIKE by 2.9% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after acquiring an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of NIKE in the fourth quarter valued at approximately $8,034,000. Financial Gravity Asset Management Inc. lifted its stake in shares of NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after buying an additional 176,476 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in NIKE by 10,184.3% in the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after buying an additional 384,357 shares during the period. Finally, Franklin Street Advisors Inc. NC grew its stake in NIKE by 55.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock valued at $21,080,000 after buying an additional 69,363 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 1.3 %

Shares of NKE stock opened at $93.36 on Friday. The company has a market cap of $140.91 billion, a P/E ratio of 27.46, a PEG ratio of 1.78 and a beta of 1.07. NIKE has a fifty-two week low of $88.66 and a fifty-two week high of $127.69. The stock has a 50 day simple moving average of $95.51 and a two-hundred day simple moving average of $102.97. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Research analysts forecast 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. Investors of record on Monday, June 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.59%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.