NIKE (NYSE:NKE) PT Raised to $84.00

NIKE (NYSE:NKE) had its price target increased by stock analysts at Barclays from $80.00 to $84.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the footwear maker’s stock. Barclays‘s price objective suggests a potential upside of 3.68% from the company’s previous close.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $83.00 target price (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. Truist Financial reduced their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a report on Friday, June 28th. StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. The Goldman Sachs Group reduced their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Telsey Advisory Group lowered their price objective on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Fifteen investment 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.74.

NIKE Stock Up 0.5 %

Shares of NYSE NKE traded up $0.38 during trading on Wednesday, reaching $81.02. The company had a trading volume of 2,265,293 shares, compared to its average volume of 11,231,735. The business’s 50-day moving average is $77.52 and its 200 day moving average is $87.32. 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 stock has a market cap of $122.29 billion, a PE ratio of 21.73, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last announced 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. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. As a group, equities analysts forecast that NIKE will post 3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of NIKE

Institutional investors have recently made changes to their positions in the business. Annapolis Financial Services LLC grew its holdings in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC grew its stake in 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 during the period. Core Wealth Advisors Inc. grew its position in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in NIKE in the 4th quarter worth about $33,000. Finally, Gold Investment Management Ltd. purchased a new stake in shares of NIKE during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.