NIKE, Inc. (NYSE:NKE) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• NIKE has a consensus analyst rating of “Hold”, based on coverage from 35 analysts: 3 sell, 19 hold, and 13 buy. The average 12-month price target is about $54.80.
• Several firms recently cut their outlooks, including Goldman Sachs, Piper Sandler, and DA Davidson, reflecting softer sentiment around the stock. Price targets were lowered across multiple reports, even as Jefferies still kept a buy rating.
• NIKE beat fiscal fourth-quarter expectations with $0.20 EPS versus $0.11 expected and revenue of $10.97 billion versus $10.85 billion expected, though revenue still declined 1.1% year over year. The company also paid a quarterly dividend of $0.41 per share, implying a 3.7% yield.

Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) have been given a consensus rating of "Hold" by the thirty-five analysts that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $54.7970.

Several research firms recently weighed in on NKE. The Goldman Sachs Group dropped their price objective on NIKE from $46.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, July 1st. Jefferies Financial Group lowered their target price on NIKE from $90.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, July 1st. Telsey Advisory Group set a $47.00 price target on NIKE and gave the company a "market perform" rating in a research report on Wednesday, July 1st. DA Davidson downgraded NIKE from a "buy" rating to a "neutral" rating and cut their price target for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. Finally, Piper Sandler decreased their price objective on shares of NIKE from $50.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 1st.

NIKE Trading Up 0.0%

Shares of NIKE stock opened at $44.39 on Monday. NIKE has a 12-month low of $40.00 and a 12-month high of $80.17. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The stock has a market cap of $65.73 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.56 and a beta of 1.12. The company has a 50-day moving average of $43.71 and a two-hundred day moving average of $52.37.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. On average, research analysts anticipate that NIKE will post 1.76 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. NIKE's payout ratio is presently 78.47%.

Insider Activity

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president owned 53,133 shares of the company's stock, valued at $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Scarborough Advisors LLC purchased a new position in NIKE during the first quarter worth $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $26,000. Sankala Group LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $26,000. Meeder Asset Management Inc. boosted its stake in shares of NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker's stock valued at $29,000 after acquiring an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of NIKE during the fourth quarter valued at $29,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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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