Analysts Set NIKE, Inc. (NYSE:NKE) Price Target at $80.11

Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) have received an average recommendation of "Moderate Buy" from the thirty-three ratings firms that are covering the firm, MarketBeat Ratings reports. Sixteen research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $80.30.

A number of analysts recently issued reports on NKE shares. JPMorgan Chase & Co. reduced 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. Royal Bank of Canada cut their target price on NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Friday, March 21st. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Williams Trading cut their target price on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Finally, Truist Financial cut their target price on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, March 21st.

NIKE Stock Up 1.2%

NKE traded up $0.73 during trading on Wednesday, reaching $63.13. 12,902,903 shares of the stock traded hands, compared to its average volume of 14,822,494. The stock has a market cap of $93.38 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. NIKE has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock's 50-day simple moving average is $61.29 and its two-hundred day simple moving average is $70.85.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, equities research analysts expect that NIKE will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

Insider Buying and Selling

In other news, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently added to or reduced their stakes in the company. Capricorn Fund Managers Ltd acquired a new stake in NIKE during the fourth quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker's stock valued at $1,955,000 after purchasing an additional 6,124 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker's stock valued at $654,000 after purchasing an additional 8,504 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Finally, Mirador Capital Partners LP boosted its holdings in NIKE by 69.8% during the fourth quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker's stock valued at $5,523,000 after purchasing an additional 30,011 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

About NIKE

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.