NIKE, Inc. (NYSE:NKE) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of NIKE, Inc. (NYSE:NKE) have been assigned an average rating of “Moderate Buy” from the twenty-nine analysts that are currently covering the firm, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $96.30.

Several brokerages have recently weighed in on NKE. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their price objective for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Morgan Stanley lifted their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada reduced their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group lifted their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Sanford C. Bernstein reduced their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Soltis Investment Advisors LLC lifted its position in NIKE by 12.2% during the third quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock valued at $3,183,000 after acquiring an additional 3,918 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of NIKE by 8.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock worth $23,466,000 after purchasing an additional 20,043 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of NIKE by 59.9% during the 3rd quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock valued at $93,315,000 after purchasing an additional 395,434 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in shares of NIKE by 62.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 121,279 shares of the footwear maker’s stock worth $10,347,000 after purchasing an additional 46,567 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after buying an additional 251,411 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 1.3 %

NYSE:NKE opened at $73.92 on Wednesday. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39. The stock has a market cap of $110.83 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.86 and a beta of 1.03. The company’s 50 day moving average price is $80.71 and its 200-day moving average price is $82.90. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. On average, equities research analysts forecast that NIKE will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 42.41%.

NIKE Company Profile

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.