Nike Inc (NYSE:NKE) Receives Consensus Recommendation of “Buy” from Analysts

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Shares of Nike Inc (NYSE:NKE) have earned an average rating of “Buy” from the thirty-three brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $89.86.

A number of brokerages recently weighed in on NKE. Piper Jaffray Companies set a $97.00 price target on shares of Nike and gave the company a “buy” rating in a report on Friday, June 28th. Bank of America raised shares of Nike to an “underperform” rating and raised their price target for the company from $60.00 to $70.00 in a report on Monday, June 24th. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating and set a $95.00 price target for the company in a report on Monday, May 27th. Goldman Sachs Group set a $83.00 target price on shares of Nike and gave the stock a “neutral” rating in a report on Monday, July 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Nike from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th.

Shares of Nike stock traded up $0.77 during midday trading on Tuesday, reaching $80.28. The company had a trading volume of 5,522,800 shares, compared to its average volume of 6,195,173. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $124.58 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The stock has a fifty day simple moving average of $85.23 and a 200 day simple moving average of $84.66. Nike has a 1-year low of $66.53 and a 1-year high of $90.00.

Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The company had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. Sell-side analysts expect that Nike will post 2.9 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.10%. Nike’s dividend payout ratio is 35.34%.

In other news, Director Elizabeth J. Comstock sold 24,000 shares of Nike stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the transaction, the director now directly owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John F. Slusher sold 110,000 shares of Nike stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $85.26, for a total transaction of $9,378,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,637 shares of company stock worth $16,767,237. Insiders own 3.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NKE. Vanguard Group Inc. lifted its position in Nike by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 105,374,269 shares of the footwear maker’s stock valued at $8,846,169,000 after acquiring an additional 1,469,583 shares in the last quarter. BlackRock Inc. lifted its position in Nike by 2.2% in the 2nd quarter. BlackRock Inc. now owns 87,672,220 shares of the footwear maker’s stock valued at $7,360,079,000 after acquiring an additional 1,883,150 shares in the last quarter. Jennison Associates LLC lifted its position in Nike by 13.6% in the 2nd quarter. Jennison Associates LLC now owns 23,510,331 shares of the footwear maker’s stock valued at $1,973,692,000 after acquiring an additional 2,809,878 shares in the last quarter. FMR LLC lifted its position in Nike by 27.0% in the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock valued at $1,943,374,000 after acquiring an additional 4,908,916 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Nike by 0.4% in the 2nd quarter. Northern Trust Corp now owns 21,011,376 shares of the footwear maker’s stock valued at $1,763,905,000 after acquiring an additional 73,514 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors.

About Nike

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

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Analyst Recommendations for Nike (NYSE:NKE)

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