NIKE, Inc. (NYSE:NKE) Receives Average “Moderate Buy” Recommendation From Brokerages

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NIKE, Inc. (NYSE: NKE – Get a rating) received an average recommendation of “moderate buy” from the twenty-nine analysts who cover the company, MarketBeat reports. Eight investment analysts rated the stock with a hold recommendation and fourteen gave the company a buy recommendation. The 12-month average price target among analysts who have covered the stock over the past year is $140.63.

NKE has been the subject of a number of recent analyst reports. Cowen lowered his target price on NIKE from $139.00 to $133.00 and set an “outperform” rating on the stock in a Thursday, June 23 research note. Wedbush lowered its target price on NIKE from $139.00 to $130.00 and set an “outperform” rating on the stock in a Tuesday, June 28 research note. 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. Jefferies Financial Group set a target price of $155.00 on NIKE in a Tuesday, June 28 research note. Finally, HSBC lowered its price target on NIKE from $140.00 to $132.00 and placed a “hold” rating on the stock in a Tuesday, June 14 research note.

Insider Trading at NIKE

In other news, CFO Matthew friend sold 9,032 shares of the company in a transaction dated Monday, June 13. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. Following the completion of the transaction, the CFO now owns 51,581 shares of the company, valued at $5,700,732.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. In other NIKE news, COO Andre Campion sold 14,203 shares of the company in a transaction that took place on Friday, June 3. The stock was sold at an average price of $120.61, for a total value of $1,713,023.83. Following the completion of the sale, the COO now owns 73,795 shares of the company, valued at $8,900,414.95. The sale was disclosed in a legal filing with the SEC, accessible via this link. Also, CFO Matthew friend sold 9,032 shares of the company in a transaction that took place on Monday, June 13. The stock was sold at an average price of $110.52, for a total value of $998,216.64. Following the completion of the sale, the CFO now directly owns 51,581 shares of the company, valued at approximately $5,700,732.12. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 72,735 shares of the company valued at $7,944,215. 3.70% of the shares are held by company insiders.

NIKE Institutional Trade

Hedge funds and other institutional investors have recently been buying and selling shares of the company. Buffington Mohr McNeal increased his position in NIKE by 0.7% in the fourth quarter. Buffington Mohr McNeal now owns 9,517 shares of the shoemaker valued at $1,586,000 after buying 70 more shares in the last quarter. Prestige Wealth Management Group LLC increased its position in NIKE by 3.2% in the fourth quarter. Prestige Wealth Management Group LLC now owns 2,292 shares of the shoemaker valued at $382,000 after buying 70 additional shares in the last quarter. Resources Management Corp CT ADV raised its position in NIKE by 0.5% in the fourth quarter. Resources Management Corp CT ADV now owns 15,025 shares of the shoemaker valued at $2,504,000 after buying 71 additional shares in the last quarter. Cavalier Investments LLC increased its position in NIKE by 0.7% in the fourth quarter. Cavalier Investments LLC now owns 10,217 shares of the shoemaker valued at $1,703,000 after buying 72 additional shares in the last quarter. Finally, Capital Analysts LLC increased its position in NIKE by 3.2% in the fourth quarter. Capital Analysts LLC now owns 2,353 shares of the shoemaker valued at $392,000 after buying 72 additional shares in the last quarter. Hedge funds and other institutional investors hold 65.35% of the company’s shares.

NIKE Price Performance

NYSE:NKE shares opened at $109.12 on Friday. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt ratio of 0.58. The stock’s fifty-day simple moving average is $110.09 and its two-hundred-day simple moving average is $126.05. NIKE has a 1-year low of $99.53 and a 1-year high of $179.10. The stock has a market capitalization of $171.73 billion, a PE ratio of 29.02, a growth price-earnings ratio of 2.28 and a beta of 1.00.

NIKE (NYSE: NKE – Get a rating) last released its results on Monday, June 27. The shoemaker reported EPS of $0.90 for the quarter, beating analyst consensus estimates of $0.81 by $0.09. The company posted revenue of $12.20 billion for the quarter, versus $12.10 billion expected by analysts. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company’s revenue for the quarter was down 0.8% from the same quarter last year. During the same period a year earlier, the company posted EPS of $0.93. As a group, analysts expect NIKE to post EPS of 3.93 for the current fiscal year.

NIKE said its board approved a stock repurchase program on Monday, June 27 that allows the company to repurchase $18.00 billion worth of stock. This repurchase authorization allows the shoemaker to repurchase up to 11% of its shares through open market purchases. Stock buyback programs are usually a sign that a company’s management believes its stock is undervalued.

NIKE announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Monday, June 6 received a dividend of $0.305 per share. This represents an annualized dividend of $1.22 and a dividend yield of 1.12%. The ex-dividend date was Friday, June 3. NIKE’s payout rate is 32.45%.

About NIKE

(Get a rating)

NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories worldwide. The company offers NIKE-branded products in six categories, including running, NIKE basketball, Jordan brand, football, training and sportswear. It also markets products designed for children, as well as other sports and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball- ball, walking, wrestling and other outdoor activities; and apparel with licensed college and pro team and league logos, as well as athletic apparel.

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Analyst Recommendations for NIKE (NYSE: NKE)

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