NIKE, Inc. (NYSE:NKE) Given Average Rating of “Hold” by Brokerages

NIKE, Inc. (NYSE:NKE) has received an average rating of “Hold” from the thirty-five research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, nineteen have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $54.7970.

Several analysts have commented on NKE shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $70.00 target price on shares of NIKE in a research note on Wednesday, July 1st. Jefferies Financial Group decreased their price objective on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. BNP Paribas Exane reaffirmed an “underperform” rating and issued a $23.00 price objective on shares of NIKE in a research report on Wednesday, July 1st. Telsey Advisory Group set a $47.00 price objective on NIKE and gave the company a “market perform” rating in a research report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. dropped their target price on NIKE from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Monday, June 29th.

NIKE Stock Performance

Shares of NYSE NKE opened at $44.39 on Monday. The company has a market cap of $65.73 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.56 and a beta of 1.12. NIKE has a 12 month low of $40.00 and a 12 month high of $80.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The company has a 50-day simple moving average of $43.71 and a 200-day simple moving average of $52.37.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 earnings per share. On average, equities analysts anticipate that NIKE will post 1.76 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.41 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.7%. NIKE’s payout ratio is 78.47%.

Insider Activity at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This represents a 24.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC raised its position in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares during the period. Caxton Associates LLP purchased a new stake in NIKE during the first quarter valued at about $311,000. United Bank grew its position in NIKE by 11.3% during the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after acquiring an additional 1,736 shares during the period. NewEdge Advisors LLC increased its stake in NIKE by 0.3% during the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after acquiring an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in NIKE by 6.5% during the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after acquiring an additional 11,646 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

About NIKE

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).