NIKE (NYSE:NKE) PT Raised to $82.00

NIKE (NYSE:NKE) had its price target raised by equities researchers at Morgan Stanley from $79.00 to $82.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the footwear maker’s stock. Morgan Stanley’s price target would suggest a potential downside of 6.58% from the company’s previous close.

Several other research firms also recently commented on NKE. HSBC reduced their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. reduced their price objective on NIKE from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday. Robert W. Baird increased their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. The Goldman Sachs Group dropped their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, UBS Group restated a “neutral” rating and issued a $78.00 target price on shares of NIKE in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.52.

NIKE Price Performance

Shares of NKE stock traded up $0.32 during trading hours on Wednesday, hitting $87.78. 1,738,035 shares of the company’s stock were exchanged, compared to its average volume of 11,539,264. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a market cap of $131.61 billion, a P/E ratio of 23.53, a P/E/G ratio of 2.30 and a beta of 1.02. The firm has a 50 day moving average of $78.70 and a two-hundred day moving average of $86.82. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the company earned $0.66 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that NIKE will post 3.04 EPS for the current year.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NKE. Vanguard Group Inc. boosted its stake 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 buying an additional 501,792 shares in the last quarter. Capital International Investors raised its holdings in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Legal & General Group Plc raised its holdings in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of NIKE by 2.2% in 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. 64.25% of the stock is currently owned by hedge funds and other 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.