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

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Shares of NIKE, Inc. (NYSE: NKE – Get a rating) earned a consensus “moderate buy” recommendation from the thirty-one rating agencies that cover the company, reports MarketBeat.com. Eleven analysts rated the stock with a hold recommendation and twelve gave the company a buy recommendation. The 1-year average target price among brokers who have reported on the stock in the past year is $137.96.

Several analysts have published reports on NKE shares. Piper Sandler began NIKE coverage in a research note on Wednesday, August 3. They issued a “neutral” rating and a price target of $115.00 on the stock. Wells Fargo & Company lowered its price target on NIKE from $150.00 to $130.00 and set an “overweight” rating on the stock in a Tuesday, June 28 research note. Wedbush lowered its target price on NIKE from $130.00 to $121.00 in a research report on Friday. Seaport Res Ptn downgraded NIKE from a “buy” rating to a “neutral” rating in a Wednesday, June 22 research report. Finally, Barclays lowered its price target on NIKE from $140.00 to $125.00 and set an “overweight” rating on the stock in a Wednesday, June 29 research report.

Insider Buying and Selling at NIKE

In other news, Executive Vice President Monique S. Matheson sold 30,000 shares in a trade that took place on Thursday, July 7. The shares were sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following completion of the transaction, the executive vice president now directly owns 60,330 shares of the company, valued at approximately $6,466,772.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. In other news, Director John W. Rogers, Jr. purchased 10,000 shares of the company in a trade Thursday, June 30. The shares were purchased at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the acquisition, the director now directly owns 25,681 shares of the company, valued at $2,644,115.76. The purchase was disclosed in an SEC filing, which is available via the SEC website. Also, VPE Monique S. Matheson sold 30,000 shares of the company in a trade on Thursday, July 7. The shares were sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the completion of the transaction, the executive vice president now directly owns 60,330 shares of the company, valued at $6,466,772.70. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 59,561 shares of the company worth $6,374,094. Insiders own 0.40% of the shares of the company.

Hedge funds weigh on NIKE

Major investors have recently increased or reduced their stakes in the company. Fundamentun LLC increased its stake in NIKE shares by 2.7% during Q2. Fundamentun LLC now owns 26,434 shares of the shoemaker valued at $2,702,000 after buying an additional 704 shares last quarter. Verition Fund Management LLC increased its stake in NIKE shares by 4,943.7% during the 2nd quarter. Verition Fund Management LLC now owns 19,617 shares of the shoemaker valued at $2,005,000 after buying an additional 20,022 shares last quarter. Columbia Asset Management purchased a new equity stake in NIKE during Q2, valued at approximately $7,975,000. Cordatus Wealth Management LLC increased its stake in NIKE shares by 2.4% during the 2nd quarter. Cordatus Wealth Management LLC now owns 10,861 shares of the shoemaker valued at $1,110,000 after buying an additional 251 shares last quarter. Finally, Prelude Capital Management LLC increased its stake in NIKE shares by 47.4% during the 2nd quarter. Prelude Capital Management LLC now owns 4,967 shares of the shoemaker valued at $508,000 after buying 1,597 additional shares last quarter. Hedge funds and other institutional investors hold 64.19% of the company’s shares.

NIKE stock up 2.1%

NYSE NKE opened at $110.97 on Monday. The company has a market capitalization of $174.06 billion, a PE ratio of 29.51, a growth price-earnings ratio of 2.35 and a beta of 1.03. NIKE has a one-year low of $99.53 and a one-year high of $179.10. The stock’s 50-day simple moving average is $109.73 and its 200-day simple moving average is $117.38. The company has a debt ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84.

NIKE (NYSE: NKE – Get a rating) last released its quarterly results on Monday, June 27. The shoemaker reported earnings per share (EPS) of $0.90 for the quarter, beating the consensus estimate of $0.81 by $0.09. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company posted revenue of $12.20 billion for the quarter, versus analyst estimates of $12.10 billion. During the same period last year, the company achieved EPS of $0.93. The company’s revenue was down 0.8% year over year. As a group, sell-side analysts expect NIKE to post earnings per share of 3.78 for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3. Shareholders of record on Tuesday, September 6 will receive a dividend of $0.305 per share. The ex-dividend date is Friday, September 2. This represents a dividend of $1.22 on an annualized basis and a dividend yield of 1.10%. NIKE’s dividend payout ratio (DPR) is currently 32.45%.

NIKE announced that its board of directors authorized a stock repurchase program on Monday, June 27 that allows the company to repurchase $18.00 billion in outstanding stock. This repurchase authorization allows the shoemaker to purchase up to 11% of its inventory through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About NIKE

(Get a rating)

NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for men, women and children worldwide. The Company provides athletic and recreational footwear, apparel and accessories under the Jumpman brand; and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.

Further reading

Analyst Recommendations for NIKE (NYSE: NKE)

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