NIKE, Inc. (NYSE:NKE) Given Average Recommendation of “Moderate Buy” by Analysts

NIKE, Inc. (NYSE:NKE) has earned an average recommendation of “Moderate Buy” from the thirty-two brokerages that are currently covering the company, MarketBeat.com reports. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $87.38.

A number of research analysts recently issued reports on NKE shares. Cfra Research upgraded NIKE to a “moderate buy” rating in a report on Friday, March 21st. Truist Financial lowered their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Barclays cut their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, UBS Group reduced their price target on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, March 21st.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently made changes to their positions in NKE. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter worth $28,000. Caitlin John LLC increased its stake in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE in the third quarter worth about $30,000. Roxbury Financial LLC purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $30,000. Finally, LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $63.57 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE has a twelve month low of $62.65 and a twelve month high of $98.04. The firm’s 50 day moving average price is $74.01 and its two-hundred day moving average price is $76.82. The firm has a market cap of $94.02 billion, a P/E ratio of 19.62, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. On average, analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is presently 53.16%.

NIKE Company Profile

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.