NIKE, Inc. (NYSE:NKE) Receives Consensus Recommendation of “Hold” from Brokerages

NIKE, Inc. (NYSE:NKE) has earned an average rating of “Hold” from the thirty ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $98.96.

A number of analysts have recently issued reports on NKE shares. Robert W. Baird cut their target price on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Morgan Stanley restated an “equal weight” rating and set a $79.00 price objective (down previously from $114.00) on shares of NIKE in a report on Friday. The Goldman Sachs Group lowered their target price on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday. Oppenheimer restated an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday. Finally, HSBC lowered their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock valued at $19,946,333 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of NIKE during the fourth quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD raised its holdings in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Capital International Investors lifted its position in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD acquired a new stake in shares of NIKE during the first quarter worth $533,533,000. Finally, Capital World Investors increased its position in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 20.0 %

NIKE stock opened at $75.37 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock has a 50-day simple moving average of $93.28 and a 200 day simple moving average of $99.00. The stock has a market capitalization of $113.76 billion, a P/E ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05. NIKE has a 52 week low of $74.55 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts expect that NIKE will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

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.