NIKE (NYSE:NKE) PT Lowered to $100.00

NIKE (NYSE:NKE) had its price target cut by investment analysts at Bank of America from $104.00 to $100.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. Bank of America‘s target price indicates a potential upside of 21.80% from the stock’s previous close.

A number of other analysts have also weighed in on NKE. The Goldman Sachs Group dropped their price objective on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company raised their price target on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. TD Cowen lowered their price objective on shares of NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Guggenheim cut their target price on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Truist Financial upped their price target on NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.04.

NIKE Stock Performance

NYSE:NKE opened at $82.11 on Wednesday. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The business has a 50 day moving average of $80.71 and a 200 day moving average of $86.36. The company has a market capitalization of $123.93 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the firm earned $0.94 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts predict that NIKE will post 3.04 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of NIKE by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after acquiring an additional 211,360 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

About NIKE

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.