NIKE’s (NKE) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of NIKE (NYSE:NKE) in a report released on Tuesday, Benzinga reports. Wedbush currently has a $115.00 target price on the footwear maker’s stock. Wedbush also issued estimates for NIKE’s Q1 2025 earnings at $0.84 EPS.

Several other research firms have also recently issued reports on NKE. Oppenheimer cut NIKE from an outperform rating to a market perform rating and set a $110.00 target price for the company. in a research note on Friday, February 16th. Bank of America raised NIKE from a neutral rating to a buy rating and raised their price objective for the stock from $110.00 to $113.00 in a research report on Thursday, April 11th. The Goldman Sachs Group decreased their target price on shares of NIKE from $135.00 to $120.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Morgan Stanley dropped their price target on shares of NIKE from $124.00 to $116.00 and set an overweight rating for the company in a research report on Wednesday, March 27th. Finally, HSBC decreased their price objective on shares of NIKE from $120.00 to $115.00 and set a hold rating on the stock in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $116.26.

NIKE Stock Down 0.3 %

Shares of NKE opened at $92.15 on Tuesday. NIKE has a 52-week low of $88.66 and a 52-week high of $127.69. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $96.00 and a two-hundred day simple moving average of $103.11. The company has a market capitalization of $139.09 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 1.74 and a beta of 1.07.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm 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%. As a group, equities analysts forecast that NIKE will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC lifted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC boosted its stake in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of NIKE during the fourth quarter worth about $29,000. True Wealth Design LLC grew its holdings in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $33,000. 64.25% of the stock is owned by institutional investors and hedge funds.

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.