NIKE (NYSE:NKE) Rating Reiterated by Piper Sandler

NIKE (NYSE:NKE)‘s stock had its “neutral” rating reiterated by investment analysts at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They currently have a $80.00 price target on the footwear maker’s stock. Piper Sandler’s price objective would indicate a potential downside of 7.54% from the company’s previous close.

A number of other research analysts also recently commented on NKE. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Raymond James restated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Truist Financial lifted their price objective on NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a research report on Friday. Sanford C. Bernstein dropped their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.15.

NIKE Trading Up 6.8 %

NYSE NKE opened at $86.52 on Friday. The firm’s 50 day moving average price is $78.11 and its two-hundred day moving average price is $87.06. 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 has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market cap of $130.59 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share 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 for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts anticipate that NIKE will post 3.06 EPS for the current year.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated 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 in the company, valued at $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction 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 directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted 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 valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Capital International Investors boosted its stake in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD bought a new stake in NIKE in the first quarter valued at $533,533,000. Capital World Investors raised its stake in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares during the period. 64.25% of the stock is owned by 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.