NIKE, Inc. (NYSE:NKE) Receives $116.52 Consensus Price Target from Brokerages

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

Several research firms recently weighed in on NKE. Barclays reduced their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. BMO Capital Markets increased their target price on NIKE from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Wells Fargo & Company reduced their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Sanford C. Bernstein reduced their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, Jefferies Financial Group reduced their target price on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd.

Institutional Investors Weigh In On NIKE

Hedge funds have recently bought and sold shares of the business. Oliver Luxxe Assets LLC grew its stake in NIKE by 2.9% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after purchasing an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in NIKE during the 4th quarter valued at approximately $8,034,000. Financial Gravity Asset Management Inc. grew its stake in NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after purchasing an additional 176,476 shares in the last quarter. International Assets Investment Management LLC grew its stake in NIKE by 10,184.3% during the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after purchasing an additional 384,357 shares in the last quarter. Finally, Daymark Wealth Partners LLC grew its stake in NIKE by 883.4% during the 3rd quarter. Daymark Wealth Partners LLC now owns 109,538 shares of the footwear maker’s stock valued at $10,474,000 after purchasing an additional 98,399 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 1.2 %

NKE opened at $93.11 on Tuesday. 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 firm has a market cap of $140.54 billion, a P/E ratio of 27.39, a PEG ratio of 1.79 and a beta of 1.09. NIKE has a 52 week low of $88.66 and a 52 week high of $128.68. The business’s fifty day simple moving average is $98.83 and its 200 day simple moving average is $103.49.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, equities research analysts anticipate that NIKE will post 3.7 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. NIKE’s payout ratio is currently 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.