NIKE, Inc. (NYSE:NKE) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• NIKE, Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with an average twelve-month price target of $78.67.
• Chairman Mark G. Parker sold 110,000 shares of NIKE stock for approximately $7.95 million, marking an 11.55% decrease in his ownership.
• NIKE announced a quarterly dividend of $0.40 per share, reflecting an annualized yield of 2.2% and a payout ratio of 74.07%.

Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirty-three analysts that are currently covering the stock, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $78.6667.

Several analysts recently commented on the company. JPMorgan Chase & Co. upgraded NIKE from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $64.00 to $93.00 in a research report on Monday, July 28th. Robert W. Baird boosted their price target on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Piper Sandler boosted their price target on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Truist Financial dropped their price target on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Finally, Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in NIKE by 1.0% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker's stock worth $1,007,000 after buying an additional 134 shares during the last quarter. Main Street Financial Solutions LLC boosted its stake in NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock worth $244,000 after buying an additional 139 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its stake in shares of NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock valued at $170,000 after purchasing an additional 142 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in shares of NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker's stock valued at $120,000 after purchasing an additional 145 shares during the last quarter. Finally, Westmount Partners LLC lifted its stake in shares of NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock valued at $367,000 after purchasing an additional 146 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Up 0.1%

NIKE stock opened at $73.06 on Tuesday. The stock has a market capitalization of $107.91 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 2.65 and a beta of 1.24. NIKE has a 12 month low of $52.28 and a 12 month high of $90.62. The business has a 50 day simple moving average of $75.33 and a 200-day simple moving average of $67.59. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business's revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. On average, analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE's payout ratio is 74.07%.

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.

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