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

Key Points

• NIKE, Inc. has received a consensus rating of "Moderate Buy" from 32 analysts, with an average 12-month price target of $78.22.
• In recent transactions, Chairman Mark G. Parker sold 86,078 shares of NIKE at an average price of $75.93, marking a 10.36% decrease in his position.
• NIKE has announced a quarterly dividend of $0.40 per share, expected to be paid on October 1st, with a current yield of 2.1%.

Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the thirty-two analysts that are covering the firm, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $78.2222.

A number of research firms have weighed in on NKE. UBS Group began coverage on shares of NIKE in a research note on Sunday, July 6th. They issued a "buy" rating on the stock. Royal Bank Of Canada dropped their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Robert W. Baird boosted their target price on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. The Goldman Sachs Group boosted their target price on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Wall Street Zen cut shares of NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.80% of the company's stock.

Institutional Trading of NIKE

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

NIKE Stock Down 0.2%

NKE stock opened at $76.10 on Friday. The stock's fifty day simple moving average is $72.15 and its two-hundred day simple moving average is $67.68. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE has a 1-year low of $52.28 and a 1-year high of $90.62. The stock has a market cap of $112.39 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.77 and a beta of 1.27.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is presently 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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