NIKE, Inc. (NYSE:NKE) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts broadly rate NIKE “Hold”: Of 37 analysts, 20 issued hold ratings, 12 buy ratings, four sell ratings and one strong-buy rating. The average 12-month price target is approximately $52.94, compared with the stock’s opening price of $39.09.
• NIKE’s latest quarterly results exceeded expectations, with earnings per share of $0.20 versus the $0.11 consensus and revenue of $10.97 billion versus $10.85 billion expected. However, revenue declined 1.1% year over year.
• NIKE declared a quarterly dividend of $0.41 per share, equivalent to an annualized $1.64 and a 4.2% yield. Insiders sold 26,142 shares worth about $1.17 million over the past 90 days, while institutional investors own 64.25% of the stock.

Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) have received a consensus rating of "Hold" from the thirty-seven ratings firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $52.9441.

A number of equities research analysts have recently commented on NKE shares. Sanford C. Bernstein reiterated an "outperform" rating and set a $68.00 price objective (down from $72.00) on shares of NIKE in a research report on Wednesday, July 29th. Barclays decreased their target price on NIKE from $67.00 to $52.00 and set an "overweight" rating on the stock in a report on Wednesday, July 1st. Oppenheimer cut their target price on NIKE from $120.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, June 26th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $40.00 target price (down from $47.00) on shares of NIKE in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group decreased their price target on NIKE from $46.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, July 1st.

NIKE Stock Down 1.3%

NYSE NKE opened at $39.09 on Tuesday. NIKE has a 12 month low of $38.17 and a 12 month high of $79.13. The company has a market capitalization of $57.99 billion, a P/E ratio of 18.70, a PEG ratio of 1.76 and a beta of 1.11. The company's 50 day simple moving average is $41.82 and its 200 day simple moving average is $46.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. Equities research analysts expect that NIKE will post 1.74 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.2%. NIKE's dividend payout ratio is currently 78.47%.

Insider Activity

In other news, CFO Matthew Friend sold 2,463 shares of NIKE stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $102,460.80. Following the transaction, the chief financial officer directly owned 82,165 shares of the company's stock, valued at $3,418,064. This trade represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 890 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $37,024.00. Following the completion of the sale, the chief operating officer owned 74,820 shares of the company's stock, valued at approximately $3,112,512. This trade represents a 1.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 26,142 shares of company stock valued at $1,169,380. 1.10% of the stock is currently owned by insiders.

Institutional Trading of NIKE

A number of hedge funds have recently modified their holdings of the business. Amundi raised its position in NIKE by 59.4% during the second quarter. Amundi now owns 6,460,398 shares of the footwear maker's stock valued at $265,199,000 after buying an additional 2,406,609 shares during the period. Carlson Financial Inc. boosted its position in NIKE by 43.7% during the 2nd quarter. Carlson Financial Inc. now owns 18,146 shares of the footwear maker's stock worth $745,000 after acquiring an additional 5,522 shares during the period. California State Teachers Retirement System boosted its position in NIKE by 4,052.9% during the 2nd quarter. California State Teachers Retirement System now owns 75,611,801 shares of the footwear maker's stock worth $3,103,864,000 after acquiring an additional 73,791,103 shares during the period. Studio Investment Management LLC purchased a new position in NIKE during the 2nd quarter valued at about $647,000. Finally, Wedmont Private Capital grew its stake in NIKE by 29.8% during the 2nd quarter. Wedmont Private Capital now owns 7,454 shares of the footwear maker's stock valued at $331,000 after acquiring an additional 1,710 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

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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