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

08 Oct 2024, 07:20 by Jessica Moore · The Cerbat Gem

Shares of NIKE, Inc. (NYSE:NKE – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-nine ratings firms that are presently covering the firm, Marketbeat.com reports. Fourteen equities research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $96.04.

Several equities research analysts have recently weighed in on the company. Robert W. Baird raised their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Citigroup lowered their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. HSBC reduced their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. TD Cowen upped their price target on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th.

Get Our Latest Analysis on NIKE

NIKE Trading Down 1.7 %

Shares of NKE opened at $80.82 on Tuesday. NIKE has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a market capitalization of $121.99 billion, a P/E ratio of 21.67, a P/E/G ratio of 2.30 and a beta of 1.02. The firm has a 50-day moving average price of $80.90 and a 200 day moving average price of $86.05. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. Sell-side analysts forecast that NIKE will post 3.04 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several institutional investors have recently bought and sold shares of the business. Annapolis Financial Services LLC raised 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 valued at $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC raised its stake in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Core Wealth Advisors Inc. raised its position in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter worth approximately $33,000. Finally, Pineridge Advisors LLC bought a new position in shares of NIKE during the fourth quarter worth approximately $38,000. Institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

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