Wells Fargo & Company Boosts NIKE (NYSE:NKE) Price Target to $95.00

NIKE (NYSE:NKE) had its price target upped by stock analysts at Wells Fargo & Company from $86.00 to $95.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the footwear maker’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 11.29% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Bank of America decreased their price target on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group decreased their target price on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. UBS Group reiterated a “neutral” rating and set a $78.00 price target on shares of NIKE in a report on Friday, June 28th. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, TD Cowen cut their target price on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

NIKE Trading Up 5.4 %

NKE traded up $4.38 during mid-day trading on Friday, reaching $85.36. The stock had a trading volume of 20,408,793 shares, compared to its average volume of 11,332,746. The firm’s fifty day simple moving average is $77.84 and its two-hundred day simple moving average is $87.23. The stock has a market capitalization of $128.84 billion, a P/E ratio of 22.88, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (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 analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. On average, equities analysts predict that NIKE will post 3.06 EPS for the current year.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s 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 transaction, the chairman now directly 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 available through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated 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 acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NKE. Cim LLC bought a new position in NIKE in the 4th quarter valued at approximately $14,275,000. TKG Advisors LLC purchased a new stake in NIKE in the 4th quarter worth approximately $1,012,000. Spartan Planning & Wealth Management bought a new stake in NIKE during the 4th quarter worth approximately $182,000. Edmond DE Rothschild Holding S.A. lifted its holdings in NIKE by 27.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock valued at $12,301,000 after purchasing an additional 24,686 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after purchasing an additional 9,689 shares during the period. Institutional investors 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.