Nike Inc. (NYSE:NKE) shares traded 1.38% higher at $97.11 on Wall Street last session.
In accordance with the data, 35 analysts cover Nike Inc. (NYSE:NKE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $150.00 and a low of $88.00, we find $121.00. Given the previous closing price of $95.79, this indicates a potential upside of 26.32 percent. NKE stock price is now -3.43% away from the 50-day moving average and -14.65% away from the 200-day moving average. The market capitalization of the company currently stands at $147.91B.
It has been rated a hold by 11 analysts and a buy by 16. Brokers who have rated the stock have averaged $120.47 as their price target over the next twelve months.
With the price target reduced from $140 to $100, Jefferies Downgraded its rating from Buy to Hold for Nike Inc. (NYSE: NKE).
In other news, SWAN ROBERT HOLMES, Director bought 13,072 shares of the company’s stock on Oct 02. The stock was bought for $1,256,611 at an average price of $96.13. Upon completion of the transaction, the Director now directly owns 18,005 shares in the company, valued at $1.75 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 08, EVP: CHRO Matheson Monique S. sold 40,000 shares of the business’s stock. A total of $4,343,678 was realized by selling the stock at an average price of $108.59. This leaves the insider owning 44,736 shares of the company worth $4.34 million. Insiders disposed of 5,572,463 shares of company stock worth roughly $541.14 million over the past 1 year. A total of 23.13% 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 TWO SIGMA ADVISERS, LP during the first quarter worth $367,678,000. WINSLOW CAPITAL MANAGEMENT, LLC invested $275,911,000 in shares of NKE during the first quarter. In the first quarter, TWO SIGMA INVESTMENTS, LP acquired a new stake in Nike Inc. valued at approximately $208,849,000. RENAISSANCE TECHNOLOGIES LLC acquired a new stake in NKE for approximately $169,451,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC purchased a new stake in NKE valued at around $134,011,000 in the second quarter. In total, there are 3,204 active investors with 66.89% ownership of the company’s stock.
Nike Inc. (NYSE: NKE) opened at $95.79 on Friday. During the past 12 months, Nike Inc. has had a low of $85.07 and a high of $131.31. As of last week, the company has a debt-to-equity ratio of 0.87, a current ratio of 2.87, and a quick ratio of 1.84. According to the stock market information, the enterprise value for the company is $151.96B, which is based on a 29.96 price-to-earnings ratio, a 2.05 price-to-earnings-growth ratio, and a beta of 1.11. The fifty day moving average price for NKE is $100.35 and a two-hundred day moving average price translates $113.75 for the stock.
The latest earnings results from Nike Inc. (NYSE: NKE) was released for Aug, 2023. According to the Footwear & Accessories Company, earnings per share came in at $0.94, beating analysts’ expectations of $0.74 by 0.2. This compares to $0.90 EPS in the same period last year. The net profit margin was 9.82% and return on equity was 33.91% for NKE. The company reported revenue of $12.82 billion for the quarter, compared to $12.23 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.83 percent. For the current quarter, analysts expect NKE to generate $13.43B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/02/2023. Investors who held shares on 09/05/2023 were paid a $0.34 dividend. On an annualized basis, this represents a $1.41 dividend and a 1.46% percent yield. There was an ex-dividend date of 09/01/2023 for this dividend. In terms of dividend payout ratio, NKE is presently at 41.03%.
Nike Inc.(NKE) Company Profile
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. It also sells a line of performance equipment and accessories comprising bags, sport balls, socks, 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. In addition, the company markets apparel with licensed college and professional team, and league logos, as well as sells sports apparel; and licenses unaffiliated parties to manufacture and sell apparel, digital devices, and applications and other equipment for sports activities under NIKE-owned trademarks. It 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. NIKE, Inc. was founded in 1964 and is headquartered in Beaverton, Oregon.
