NIKE, Inc. (NYSE:NKE) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• NIKE, Inc. has an average rating of "Moderate Buy" from 35 brokerages, with a twelve-month price target of $81.57.
• Insider selling includes EVP Treasure Heinle selling 4,300 shares and Chairman Mark G. Parker selling 86,078 shares, reflecting a notable decrease in their positions.
• NIKE reported earnings of $0.49 per share for the last quarter, outperforming analysts' expectations and revealing a 1.0% year-over-year revenue increase.

NIKE, Inc. (NYSE:NKE - Get Free Report) has received an average rating of "Moderate Buy" from the thirty-five brokerages that are covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $81.5714.

A number of analysts have recently issued reports on the company. Piper Sandler set a $84.00 price target on NIKE and gave the company an "overweight" rating in a research report on Wednesday, October 1st. Sanford C. Bernstein reiterated a "buy" rating and set a $90.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Telsey Advisory Group reiterated a "market perform" rating and set a $75.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Finally, Weiss Ratings upgraded NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday.

Insider Buying and Selling

In related news, EVP Treasure Heinle sold 4,300 shares of the business's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,378 shares of company stock valued at $14,794,264 in the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of NIKE by 0.6% during the second quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker's stock valued at $8,086,042,000 after buying an additional 672,705 shares during the period. State Street Corp increased its stake in shares of NIKE by 2.8% during the second quarter. State Street Corp now owns 59,154,159 shares of the footwear maker's stock valued at $4,225,441,000 after buying an additional 1,590,603 shares during the period. Wellington Management Group LLP increased its stake in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after buying an additional 20,688,013 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after buying an additional 620,214 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 4.1%

NKE stock opened at $65.25 on Friday. The firm has a market capitalization of $96.45 billion, a PE ratio of 33.46, a PEG ratio of 2.48 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $73.80 and a two-hundred day simple moving average of $67.28. NIKE has a twelve month low of $52.28 and a twelve month high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. On average, equities analysts predict that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. NIKE's payout ratio is presently 82.05%.

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.

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