Nike Inc (NYSE:NKE) has received a consensus rating of “Buy” from the thirty-nine analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and twenty-five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $86.64.
Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Nike from a “buy” rating to a “hold” rating in a report on Monday, March 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $90.00 price target on shares of Nike in a report on Friday, April 12th. UBS Group decreased their price target on shares of Nike from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Wells Fargo & Co lifted their price target on shares of Nike from $76.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $97.00 price target on shares of Nike in a report on Friday, March 22nd.
NKE stock traded up $0.93 during mid-day trading on Wednesday, hitting $88.73. 4,998,085 shares of the company were exchanged, compared to its average volume of 7,099,454. The firm has a market cap of $138.63 billion, a P/E ratio of 36.67, a P/E/G ratio of 2.61 and a beta of 0.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43. Nike has a twelve month low of $64.99 and a twelve month high of $88.59.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.22 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.88 annualized dividend and a yield of 0.99%. Nike’s dividend payout ratio is presently 36.36%.
In other Nike news, CEO Mark G. Parker sold 150,000 shares of the stock in a transaction dated Friday, January 18th. The shares were sold at an average price of $80.00, for a total transaction of $12,000,000.00. Following the sale, the chief executive officer now owns 1,687,863 shares of the company’s stock, valued at approximately $135,029,040. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 426,500 shares of company stock worth $35,107,665. 3.90% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in NKE. Vanguard Group Inc. raised its position in shares of Nike by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 102,670,288 shares of the footwear maker’s stock valued at $8,698,227,000 after acquiring an additional 1,207,986 shares during the period. Vanguard Group Inc raised its position in shares of Nike by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock valued at $8,698,227,000 after acquiring an additional 1,207,986 shares during the period. BlackRock Inc. raised its position in shares of Nike by 4.3% in the 4th quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock valued at $6,395,928,000 after acquiring an additional 3,592,186 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Nike by 6,517.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after acquiring an additional 34,749,961 shares during the period. Finally, Northern Trust Corp raised its position in shares of Nike by 2.4% in the 4th quarter. Northern Trust Corp now owns 20,985,790 shares of the footwear maker’s stock valued at $1,555,886,000 after acquiring an additional 491,974 shares during the period. Institutional investors own 65.62% of the company’s stock.
Nike Company Profile
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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