NIKE (NYSE:NKE) PT Lowered to $100.00

NIKE (NYSE:NKE) had its price objective dropped by investment analysts at Telsey Advisory Group from $115.00 to $100.00 in a report issued on Friday, MarketBeat.com reports. The firm presently has an “outperform” rating on the footwear maker’s stock. Telsey Advisory Group’s price target indicates a potential upside of 32.68% from the company’s previous close.

NKE has been the subject of a number of other research reports. Truist Financial restated a “hold” rating and set a $99.00 price objective on shares of NIKE in a research report on Thursday, June 20th. Citigroup cut their price target on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price target on shares of NIKE in a report on Friday. The Goldman Sachs Group cut their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $98.96.

NIKE Stock Down 20.0 %

Shares of NYSE:NKE opened at $75.37 on Friday. The stock has a market cap of $113.76 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.79 and a beta of 1.05. The firm has a fifty day moving average price of $93.28 and a 200 day moving average price of $99.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE has a 1-year low of $74.55 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.87%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. Sell-side analysts predict that NIKE will post 3.9 EPS for the current year.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 over the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Trading of NIKE

Several institutional investors have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC raised its holdings in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in shares of NIKE during the fourth quarter worth $29,000. True Wealth Design LLC grew its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the fourth quarter worth about $33,000. 64.25% of the stock is owned by institutional investors and hedge funds.

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.