Brokerages Set NIKE, Inc. (NYSE:NKE) Target Price at $53.53

Shares of NIKE, Inc. (NYSE:NKE) have received a consensus rating of “Hold” from the thirty-seven ratings firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $53.5324.

Several brokerages recently commented on NKE. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Royal Bank Of Canada reiterated a “neutral” rating on shares of NIKE in a research note on Wednesday, July 1st. Robert W. Baird reissued an “outperform” rating and set a $70.00 price objective on shares of NIKE in a report on Wednesday, July 1st. Barclays reduced their target price on shares of NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Finally, China Renaissance lowered their target price on shares of NIKE from $50.30 to $47.30 and set a “hold” rating on the stock in a report on Thursday, July 2nd.

Insider Activity

In other news, COO Venkatesh Alagirisamy sold 890 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $37,024.00. Following the transaction, the chief operating officer directly owned 74,820 shares of the company’s stock, valued at $3,112,512. The trade was a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 26,142 shares of company stock worth $1,169,380. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several institutional investors have recently bought and sold shares of the business. J. Stern & Co. LLP grew its holdings in NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after acquiring an additional 47,956,692 shares during the last quarter. Norges Bank bought a new position in shares of NIKE in the fourth quarter worth about $829,956,000. Flossbach Von Storch SE acquired a new position in shares of NIKE during the second quarter worth approximately $488,714,000. Harris Associates L P bought a new stake in shares of NIKE during the second quarter valued at approximately $621,525,000. Finally, Capital World Investors grew its stake in shares of NIKE by 16.2% during the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s planned signature shoe partnership with basketball star Victor Wembanyama could strengthen its connection with younger consumers and support a refreshed basketball strategy. The investment provides a potential growth catalyst as the company seeks to rebuild momentum. What Does Nike Gain From Its Victor Wembanyama Signature Shoe Bet?
• Positive Sentiment: NIKE is upgrading its international logistics network to improve inventory flow, reduce markdowns and support profit margins. Successful execution could help offset ongoing pressure on international sales. Are International Logistics Improvements Paying Off for NIKE?
• Neutral Sentiment: Investors continue to closely track NIKE’s turnaround, including its efforts to improve product innovation, manage inventory and restore brand momentum. Commentary comparing NIKE with other struggling footwear companies highlights both its scale and the challenges facing the sector. Why Is Nike the Consumer Name Markets Track Through Its Turnaround? Nike, Lululemon, Deckers, and On Holding Have All Plunged
• Neutral Sentiment: NIKE announced changes in key finance roles, including the planned resignation of Vice President and Chief Accounting Officer Johanna Nielsen. The transition may draw attention to financial controls and execution, although no immediate business impact was reported. Nike Announces Leadership Changes in Key Finance Roles
• Negative Sentiment: NIKE continues to lose ground in Greater China, where local competitors are gaining share while brands such as Lululemon and Amer Sports report stronger regional growth. Persistent China weakness is a major concern for revenue and brand momentum. China’s Athleisure Boom Is Not Lifting Every Brand Equally
• Negative Sentiment: NIKE underperformed the broader market amid a selloff in footwear stocks, reflecting investor concerns about demand, competition and the pace of its recovery. An insider’s sale of 4,867 shares adds a modest negative signal, though the executive retained a substantial stake. Nike Suffers a Larger Drop Than the General Market NIKE Insider Sale Filing

NIKE Stock Performance

NKE opened at $41.29 on Friday. The stock has a market cap of $61.25 billion, a PE ratio of 19.76, a P/E/G ratio of 1.87 and a beta of 1.11. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $43.06 and its 200-day simple moving average is $49.13. NIKE has a 1 year low of $40.00 and a 1 year high of $80.17.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same period last year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts forecast that NIKE will post 1.74 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s dividend payout ratio is currently 78.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).