NIKE, Inc. (NYSE:NKE) Receives Average Rating of “Moderate Buy” from Brokerages

NIKE, Inc. (NYSE:NKE) has been assigned a consensus rating of “Moderate Buy” from the thirty brokerages that are presently covering the stock, MarketBeat.com reports. Thirteen analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $95.86.

A number of equities research analysts have weighed in on NKE shares. Guggenheim dropped their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Piper Sandler restated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Bank of America dropped their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Evercore ISI dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Telsey Advisory Group dropped their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd.

Institutional Investors Weigh In On NIKE

Several hedge funds have recently made changes to their positions in NKE. Loomis Sayles & Co. L P grew its stake in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. Longview Partners Guernsey LTD acquired a new position in NIKE during the first quarter worth $533,533,000. Capital World Investors raised its holdings in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. State Street Corp raised its holdings in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of NIKE in the third quarter worth $148,635,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $77.40 on Wednesday. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $116.05 billion, a PE ratio of 22.18, a P/E/G ratio of 1.82 and a beta of 1.03. The firm has a 50-day simple moving average of $80.51 and a two-hundred day simple moving average of $82.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts forecast that NIKE will post 2.75 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 42.41%.

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.