Brokerages Set NIKE, Inc. (NYSE:NKE) PT at $116.26

Shares of NIKE, Inc. (NYSE:NKE) have been assigned an average recommendation of “Moderate Buy” from the thirty-one analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $116.26.

A number of brokerages have recently commented on NKE. Stifel Nicolaus dropped their price target on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. UBS Group cut their target price on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Williams Trading reaffirmed a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Jefferies Financial Group reduced their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Finally, Wells Fargo & Company dropped their target price on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd.

Institutional Investors Weigh In On NIKE

Several large investors have recently made changes to their positions in NKE. Empowered Funds LLC grew its holdings in NIKE by 195.2% during the 1st quarter. Empowered Funds LLC now owns 45,100 shares of the footwear maker’s stock valued at $4,238,000 after buying an additional 29,823 shares in the last quarter. AIA Group Ltd grew its holdings in shares of NIKE by 35.6% in the first quarter. AIA Group Ltd now owns 15,297 shares of the footwear maker’s stock valued at $1,438,000 after purchasing an additional 4,020 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of NIKE by 28.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 97,068 shares of the footwear maker’s stock valued at $9,122,000 after purchasing an additional 21,500 shares in the last quarter. Empirical Finance LLC increased its position in NIKE by 3.5% in the first quarter. Empirical Finance LLC now owns 45,101 shares of the footwear maker’s stock worth $4,239,000 after purchasing an additional 1,520 shares during the last quarter. Finally, Duality Advisers LP raised its stake in NIKE by 77.3% during the first quarter. Duality Advisers LP now owns 42,250 shares of the footwear maker’s stock valued at $3,971,000 after purchasing an additional 18,425 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NIKE stock opened at $93.36 on Friday. NIKE has a 12 month low of $88.66 and a 12 month high of $127.69. The firm has a market capitalization of $140.91 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.78 and a beta of 1.07. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $95.51 and a two-hundred day simple moving average of $102.97.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, equities analysts forecast that NIKE will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.