Stocks of NIKE Inc. (NYSE:NKE) traded higher last session on Wall Street, up 0.70% to $108.71.
According to the data, NIKE Inc. (NYSE:NKE) has 36 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $151.87 and a low of $95.00, we find $130.00. Given the previous closing price of $107.95, this indicates a potential upside of 20.43 percent. NKE stock price is now -2.84% away from the 50-day moving average and -3.59% away from the 200-day moving average. The market capitalization of the company currently stands at $166.92B.
A total of 10 analysts have issued a hold rating and 17 have given it a buy rating. Brokers who have rated the stock have averaged $128.65 as their price target over the next twelve months.
With the price target reduced from $138 to $130, Robert W. Baird maintained Outperform rating for NIKE Inc. (NYSE: NKE).
In other news, Friend Matthew, EVP: CFO sold 9,210 shares of the company’s stock on Jun 05. The stock was sold for $990,075 at an average price of $107.50. Upon completion of the transaction, the EVP: CFO now directly owns 41,771 shares in the company, valued at $4.54 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 12, EXECUTIVE CHAIRMAN PARKER MARK G sold 110,000 shares of the business’s stock. A total of $13,294,600 was realized by selling the stock at an average price of $120.86. This leaves the insider owning 1,355,871 shares of the company worth $147.4 million. Insiders disposed of 5,407,962 shares of company stock worth roughly $587.9 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NKE stock. A new stake in NIKE Inc. shares was purchased by EMPOWER ADVISORY GROUP, LLC during the first quarter worth $74,317,000. CANOE FINANCIAL LP invested $68,165,000 in shares of NKE during the first quarter. In the first quarter, ARTEMIS INVESTMENT MANAGEMENT LLP acquired a new stake in NIKE Inc. valued at approximately $58,945,000. QUINTET PRIVATE BANK (EUROPE) S.A. acquired a new stake in NKE for approximately $54,069,000. HOLOCENE ADVISORS, LP purchased a new stake in NKE valued at around $32,687,000 in the second quarter. In total, there are 3,167 active investors with 82.90% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $107.26 for NIKE Inc. (NYSE: NKE). During the past 12 months, NIKE Inc. has had a low of $82.22 and a high of $131.31. As of last week, the company has a debt-to-equity ratio of 0.65, a current ratio of 2.70, and a quick ratio of 1.80. According to the stock market information, the enterprise value for the company is $168.56B, which is based on a 33.69 price-to-earnings ratio, a 2.23 price-to-earnings-growth ratio, and a beta of 1.12. The fifty day moving average price for NKE is $111.53 and a two-hundred day moving average price translates $112.82 for the stock.
The latest earnings results from NIKE Inc. (NYSE: NKE) was released for May, 2023. According to the Footwear & Accessories Company, earnings per share came in at $0.66, missing analysts’ expectations of $0.67 by -0.01. This compares to $0.87 EPS in the same period last year. The net profit margin was 11.00% and return on equity was 37.00% for NKE. The company reported revenue of $12.39 billion for the quarter, compared to $10.87 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.97 percent. For the current quarter, analysts expect NKE to generate $12.99B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/05/2023. Investors who held shares on 06/05/2023 were paid a $0.34 dividend. On an annualized basis, this represents a $1.36 dividend and a 1.25% percent yield. There was an ex-dividend date of 06/02/2023 for this dividend. In terms of dividend payout ratio, NKE is presently at 34.00%.
NIKE Inc.(NKE) Company Profile
NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells men’s, women’s, and kids athletic footwear, apparel, equipment, and accessories 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. In addition, it sells a line of performance equipment and accessories comprising bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment, and other equipment for sports activities under the NIKE brand; and various plastic products to other manufacturers. The company markets apparel with licensed college and professional team, and league logos, as well as sells sports apparel. Additionally, it licenses unaffiliated parties to manufacture and sell apparel, digital devices, and applications and other equipment for sports activities under NIKE-owned trademarks. The company sells its products to footwear stores; sporting goods stores; athletic specialty stores; department stores; skate, tennis, and golf shops; and other retail accounts through NIKE-owned retail stores, digital platforms, independent distributors, licensees, and sales representatives. The company was formerly known as Blue Ribbon Sports, Inc. and changed its name to NIKE, Inc. in 1971. NIKE, Inc. was founded in 1964 and is headquartered in Beaverton, Oregon.
