NIKE (NYSE:NKE) PT Raised to $85.00

NIKE (NYSE:NKE) had its price target increased by equities researchers at Truist Financial from $81.00 to $85.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the footwear maker’s stock. Truist Financial’s target price suggests a potential downside of 1.21% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $83.00 price objective (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, August 23rd. Finally, StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.15.

NIKE Stock Performance

Shares of NYSE NKE traded up $5.06 during mid-day trading on Friday, reaching $86.04. 26,876,389 shares of the company were exchanged, compared to its average volume of 11,368,282. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market capitalization of $129.87 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.08 and a beta of 1.02. The company’s 50-day simple moving average is $77.84 and its 200-day simple moving average is $87.23. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, research analysts predict that NIKE will post 3.06 earnings per share for the current year.

Insider Buying and Selling at NIKE

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

Institutional Investors Weigh In On NIKE

Institutional investors have recently modified their holdings of the company. Annapolis Financial Services LLC grew its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the period. True Wealth Design LLC increased its stake in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of NIKE during the 4th quarter valued at $33,000. Core Wealth Advisors Inc. boosted its stake in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE in the fourth quarter worth $36,000. 64.25% of the stock is owned by institutional investors.

NIKE 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.