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

Shares of NIKE, Inc. (NYSE:NKE) have received an average rating of “Hold” from the thirty-six analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and sixteen have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $62.0394.

Several research firms have recently commented on NKE. Williams Trading lowered their price target on NIKE from $80.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Barclays decreased their target price on NIKE from $73.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Royal Bank Of Canada restated a “buy” rating on shares of NIKE in a report on Wednesday, April 1st. Sanford C. Bernstein reiterated a “buy” rating on shares of NIKE in a research note on Monday, May 11th. Finally, DA Davidson cut shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $72.00 to $46.00 in a research report on Thursday, April 2nd.

NIKE Stock Performance

Shares of NKE stock opened at $47.40 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The firm has a market cap of $70.20 billion, a P/E ratio of 31.39, a P/E/G ratio of 2.44 and a beta of 1.12. The firm’s 50 day moving average price is $45.89 and its 200-day moving average price is $56.84. NIKE has a one year low of $41.35 and a one year high of $80.17.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. As a group, equities research analysts predict that NIKE will post 1.51 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.5%. NIKE’s dividend payout ratio is 108.61%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 11,781 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was acquired at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the purchase, the director directly owned 55,074 shares in the company, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Elliott Hill acquired 23,660 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were bought at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the transaction, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NIKE

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Scarborough Advisors LLC purchased a new stake in shares of NIKE during the first quarter worth approximately $25,000. Cornerstone Financial Management LLC purchased a new position in NIKE in the fourth quarter worth approximately $26,000. Sankala Group LLC acquired a new position in NIKE during the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. increased its position in shares of NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

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).