NIKE, Inc. (NYSE:NKE) Receives $116.52 Average Price Target from Analysts

by · The Cerbat Gem

NIKE, Inc. (NYSE:NKE – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the thirty-one research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and twenty have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $116.26.

A number of brokerages have commented on NKE. JPMorgan Chase & Co. decreased their price objective on NIKE from $139.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, December 22nd. Morgan Stanley cut their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. TheStreet downgraded NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Truist Financial reiterated a “hold” rating and set a $111.00 target price on shares of NIKE in a research report on Tuesday, March 19th. Finally, Evercore ISI cut their target price on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd.

Check Out Our Latest Analysis on NIKE

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently made changes to their positions in NKE. BCK Partners Inc. acquired a new stake in shares of NIKE in the first quarter valued at about $2,839,000. Loomis Sayles & Co. L P increased its stake in shares of NIKE by 138.2% in the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock valued at $1,511,000 after buying an additional 6,518 shares during the period. Merit Financial Group LLC grew its stake in NIKE by 13.3% during the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after purchasing an additional 186 shares during the period. Bridgewater Associates LP acquired a new stake in NIKE during the first quarter worth approximately $278,000. Finally, Federated Hermes Inc. grew its stake in NIKE by 9.8% during the first quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after purchasing an additional 38,903 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NKE stock opened at $92.00 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $138.86 billion, a PE ratio of 27.06, a PEG ratio of 1.72 and a beta of 1.08. NIKE has a 1-year low of $88.66 and a 1-year high of $128.68. The business’s 50 day simple moving average is $98.96 and its 200 day simple moving average is $103.37.

NIKE (NYSE:NKE – Get Free Report) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping 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, research analysts anticipate that NIKE will post 3.7 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. NIKE’s payout ratio is 43.53%.

About NIKE

(Get Free Report

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.

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