Brokerages Set NIKE, Inc. (NYSE:NKE) Target Price at $85.15

Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the thirty-three brokerages that are presently covering the firm, Marketbeat.com reports. Fifteen analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $85.15.

Several equities research analysts recently commented on NKE shares. Robert W. Baird reduced their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Citigroup lowered NIKE from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Needham & Company LLC dropped their price target on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Truist Financial decreased their target price on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. cut their price objective on NIKE from $73.00 to $64.00 and set a "neutral" rating for the company in a research report on Friday, March 21st.

NIKE Price Performance

Shares of NYSE:NKE traded up $2.18 during trading on Friday, reaching $55.73. The company had a trading volume of 18,891,139 shares, compared to its average volume of 14,208,512. The company has a fifty day moving average of $68.39 and a two-hundred day moving average of $73.85. NIKE has a 12 month low of $52.28 and a 12 month high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $82.44 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the business posted $0.98 EPS. The firm's revenue was down 9.1% compared to the same quarter last year. Equities research analysts forecast that NIKE will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. NIKE's payout ratio is 53.16%.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Several hedge funds and other institutional investors have recently modified their holdings of NKE. Norges Bank purchased a new stake in NIKE during the fourth quarter worth approximately $1,126,288,000. Wellington Management Group LLP grew its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock valued at $516,166,000 after purchasing an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after buying an additional 3,121,929 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after buying an additional 2,416,601 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

About NIKE

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.