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

Shares of NIKE, Inc. (NYSE:NKE) have received a consensus rating of “Hold” from the thirty-six research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, nineteen have assigned a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong 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 research firms recently issued reports on NKE. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Wells Fargo & Company lowered their price target on NIKE from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 1st. Citigroup dropped their price objective on NIKE from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. HSBC lowered NIKE from a “buy” rating to a “hold” rating and cut their price objective for the stock from $90.00 to $48.00 in a research report on Monday, April 13th. Finally, Berenberg Bank set a $49.00 target price on NIKE in a research note on Friday, July 3rd.

NIKE Trading Down 1.8%

Shares of NKE opened at $43.78 on Monday. The stock has a market capitalization of $64.83 billion, a P/E ratio of 20.95, a PEG ratio of 2.57 and a beta of 1.12. NIKE has a twelve month low of $40.00 and a twelve month high of $80.17. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $43.67 and a two-hundred day simple moving average of $51.86.

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

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors 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 Transactions at NIKE

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of large investors have recently modified their holdings of NKE. Scarborough Advisors LLC bought a new position in NIKE in the first quarter worth about $25,000. Cornerstone Financial Management LLC bought a new stake in NIKE during the 4th quarter valued at approximately $26,000. Sankala Group LLC purchased a new position in shares of NIKE during the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. grew its holdings in shares of NIKE by 108.4% during the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 285 shares during the period. Finally, J.Safra Asset Management Corp bought a new position in shares of NIKE in the 4th quarter worth approximately $29,000. Institutional investors own 64.25% of the company’s stock.

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).