NIKE (NYSE:NKE) PT Lowered to $80.00

NIKE (NYSE:NKE) had its price objective lowered by analysts at JPMorgan Chase & Co. from $83.00 to $80.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the footwear maker’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 6.74% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Wedbush dropped their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. HSBC reduced their target price on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a report on Friday, June 28th. Truist Financial lifted their price target on NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a report on Friday. Finally, StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.04.

NIKE Price Performance

Shares of NKE traded down $0.74 during trading hours on Monday, hitting $85.78. 6,426,843 shares of the company were exchanged, compared to its average volume of 11,475,634. 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 company has a market capitalization of $129.47 billion, a PE ratio of 22.95, a PEG ratio of 2.08 and a beta of 1.02. The firm has a fifty day simple moving average of $78.11 and a 200-day simple moving average of $86.99. NIKE has a one year low of $70.75 and a one year high of $123.39.

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

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed 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 shares were sold at an average price of $78.00, for a total value 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 Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. 9258 Wealth Management LLC raised its holdings in NIKE by 23.9% in the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after acquiring an additional 842 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in NIKE by 34.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after purchasing an additional 2,981 shares during the period. TrinityPoint Wealth LLC boosted its stake in NIKE by 0.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock worth $2,341,000 after buying an additional 166 shares in the last quarter. Parallel Advisors LLC increased its holdings in NIKE by 3.9% in the 4th quarter. Parallel Advisors LLC now owns 96,312 shares of the footwear maker’s stock valued at $10,457,000 after buying an additional 3,597 shares during the period. Finally, Mitchell Sinkler & Starr PA raised its stake in shares of NIKE by 32.7% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 55,819 shares of the footwear maker’s stock valued at $6,060,000 after buying an additional 13,765 shares in the last quarter. 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.