NIKE, Inc. (NYSE:NKE) Receives $96.30 Consensus PT from Analysts

Shares of NIKE, Inc. (NYSE:NKE) have earned an average recommendation of “Moderate Buy” from the thirty brokerages that are currently covering the company, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $95.86.

Several equities research analysts have commented on the stock. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Barclays lowered their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Wells Fargo & Company raised their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Sanford C. Bernstein cut their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently bought and sold shares of the business. Loomis Sayles & Co. L P increased its stake in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares during the period. Longview Partners Guernsey LTD acquired a new position in shares of NIKE in the first quarter worth $533,533,000. Capital World Investors raised its holdings in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. State Street Corp boosted its position in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Finally, Holocene Advisors LP acquired a new position in NIKE in the 3rd quarter worth about $148,635,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $77.61 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market cap of $116.37 billion, a P/E ratio of 22.24, a PEG ratio of 1.92 and a beta of 1.03. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a fifty day moving average price of $80.44 and a 200 day moving average price of $82.32.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS. On average, research analysts forecast that NIKE will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is currently 42.41%.

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.