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

Key Points

• Analysts' consensus is Hold — 36 brokerages cover NIKE (2 sell, 17 hold, 17 buy) with an average 12‑month target of $62.34.
• Insider buying: Director Robert Holmes Swan purchased 11,781 shares and CEO Elliott Hill bought 23,660 shares (insiders bought 64,441 shares worth about $2.73M), raising their stakes to 0.80% ownership.
• NIKE slightly beat the quarter (EPS $0.35 vs $0.29 consensus; revenue $11.28B vs $11.23B) but EPS fell year‑over‑year; the company pays a $0.41 quarterly dividend (3.6% yield) with a 108.6% payout ratio.

NIKE, Inc. (NYSE:NKE - Get Free Report) has received an average recommendation of "Hold" from the thirty-six brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $62.3424.

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reissued a "neutral" rating and set a $50.00 price objective (down from $60.00) on shares of NIKE in a research report on Friday, April 10th. KeyCorp cut their price objective on shares of NIKE from $90.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, January 22nd. Wells Fargo & Company cut their price objective on shares of NIKE from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $54.00 to $51.00 and set a "hold" rating for the company in a research report on Wednesday, April 1st. Finally, Truist Financial cut their price objective on NIKE from $69.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 11,781 shares of the business's stock in a transaction that occurred on Tuesday, April 7th. The stock was bought at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the purchase, the director owned 55,074 shares in the company, valued at $2,337,340.56. The trade was a 27.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Elliott Hill acquired 23,660 shares of the business's stock in a transaction that occurred on Monday, April 13th. The shares were bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the purchase, the chief executive officer owned 265,247 shares in the company, valued at $11,211,990.69. This trade represents a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 64,441 shares of company stock valued at $2,734,204. Insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Main Street Financial Solutions LLC boosted its holdings in NIKE by 4.2% in the 2nd 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 period. Spirepoint Private Client LLC boosted its stake in NIKE by 0.4% in the 3rd quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker's stock worth $2,520,000 after purchasing an additional 153 shares during the period. Diligent Investors LLC boosted its stake in NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker's stock worth $237,000 after purchasing an additional 153 shares during the period. CVA Family Office LLC boosted its stake in NIKE by 8.0% in the 3rd quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker's stock worth $147,000 after purchasing an additional 156 shares during the period. Finally, Naples Global Advisors LLC boosted its stake in NIKE by 1.9% in the 3rd quarter. Naples Global Advisors LLC now owns 8,514 shares of the footwear maker's stock worth $597,000 after purchasing an additional 159 shares during the period. Institutional investors own 64.25% of the company's stock.

NIKE Trading Down 0.3%

NIKE stock opened at $45.01 on Wednesday. The business has a 50-day simple moving average of $52.24 and a two-hundred day simple moving average of $59.97. The company has a market cap of $66.65 billion, a P/E ratio of 29.81, a P/E/G ratio of 2.39 and a beta of 1.31. NIKE has a 52-week low of $42.09 and a 52-week high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The company's revenue for the quarter was up .1% compared to the same quarter last year. Analysts predict that NIKE will post 1.52 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were paid a dividend of $0.41 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.6%. NIKE's payout ratio is 108.61%.

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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