NIKE (NYSE:NKE – Get Free Report) had its target price cut by investment analysts at BTIG Research from $55.00 to $50.00 in a report issued on Friday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the footwear maker’s stock. BTIG Research’s price objective would indicate a potential upside of 42.66% from the stock’s current price.
NKE has been the topic of several other reports. CICC Research cut their target price on shares of NIKE from $58.00 to $44.80 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Jefferies Financial Group set a $60.00 price target on shares of NIKE in a research report on Friday. Barclays reaffirmed an “overweight” rating and set a $48.00 price target (down from $52.00) on shares of NIKE in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. reiterated a “sell” rating on shares of NIKE in a report on Monday, August 31st. Finally, Bank of America reissued an “underperform” rating and issued a $24.00 price objective (down from $30.00) on shares of NIKE in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have issued a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Hold” and a consensus target price of $44.47.
Read Our Latest Report on NIKE
NIKE Price Performance
NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings results on Thursday, October 1st. The footwear maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.05. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company had revenue of $11.21 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. Analysts expect that NIKE will post 1.61 EPS for the current year.
Insider Activity
In related news, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the transaction, the insider owned 57,436 shares of the company’s stock, valued at $2,415,183.80. This trade represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Friend sold 2,463 shares of NIKE stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $102,460.80. Following the transaction, the chief financial officer directly owned 82,165 shares of the company’s stock, valued at $3,418,064. This represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,974 shares of company stock worth $600,126 over the last quarter. Company insiders own 1.10% of the company’s stock.
Institutional Trading of NIKE
A number of large investors have recently bought and sold shares of the business. Confluence Investment Management LLC raised its position in shares of NIKE by 873.8% in the 3rd quarter. Confluence Investment Management LLC now owns 2,720,616 shares of the footwear maker’s stock worth $96,310,000 after acquiring an additional 2,441,233 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of NIKE by 8.5% during the 2nd quarter. QRG Capital Management Inc. now owns 106,883 shares of the footwear maker’s stock valued at $4,388,000 after purchasing an additional 8,338 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of NIKE by 214.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 32,596 shares of the footwear maker’s stock valued at $1,338,000 after purchasing an additional 22,215 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in NIKE by 98.4% during the second quarter. Envestnet Asset Management Inc. now owns 2,202,581 shares of the footwear maker’s stock worth $90,416,000 after purchasing an additional 1,092,282 shares during the period. Finally, State Street Corp grew its stake in NIKE by 6.8% during the second quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock worth $2,636,104,000 after purchasing an additional 4,052,428 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.
NIKE News Roundup
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: NIKE reported quarterly EPS of $0.48, ahead of the $0.43 analyst consensus. The company also said its performance-focused business is showing progress, which could support the longer-term recovery. NIKE fiscal 2027 first-quarter results
- Positive Sentiment: Demand for Nike’s first Caitlin Clark signature shoe was strong, with the Caitlin 1 nearly selling out shortly after launch, providing a potential product and marketing catalyst. Nike Caitlin Clark shoes
About NIKE
NIKE, Inc is a global sportswear company that designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and related services. Its products are marketed under the NIKE, Jordan and Converse brands and are used across a broad range of sports and lifestyle activities, including running, basketball, football, training and outdoor pursuits.
The company distributes its products through a combination of wholesale partners, NIKE-owned retail stores and digital platforms.
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