NIKE (NYSE:NKE) Price Target Lowered to $45.00 at Piper Sandler

NIKE (NYSE:NKEGet Free Report) had its price target lowered by investment analysts at Piper Sandler from $50.00 to $45.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a “neutral” rating on the footwear maker’s stock. Piper Sandler’s target price points to a potential upside of 9.54% from the company’s current price.

A number of other research analysts have also issued reports on the company. Truist Financial decreased their target price on NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. BNP Paribas Exane reiterated an “underperform” rating on shares of NIKE in a report on Tuesday, June 23rd. Jefferies Financial Group cut their price target on shares of NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. JPMorgan Chase & Co. decreased their target price on NIKE from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Monday. Finally, UBS Group set a $50.00 price target on NIKE and gave the stock a “neutral” rating in a research note on Wednesday, June 10th. Fourteen investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, NIKE currently has an average rating of “Hold” and a consensus price target of $56.86.

Read Our Latest Report on NIKE

NIKE Stock Down 1.0%

Shares of NYSE:NKE opened at $41.08 on Wednesday. The firm’s 50-day moving average is $44.01 and its two-hundred day moving average is $53.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. NIKE has a 1 year low of $40.00 and a 1 year high of $80.17. The firm has a market capitalization of $60.84 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.81 and a beta of 1.12.

NIKE (NYSE:NKEGet Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. Analysts predict that NIKE will post 1.49 EPS for the current year.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 4,000 shares of the business’s stock in a transaction dated Thursday, April 9th. The stock was acquired at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the purchase, the director directly owned 41,022 shares of the company’s stock, valued at $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan purchased 11,781 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were bought at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the acquisition, the director owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by company insiders.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in NIKE by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock worth $7,453,658,000 after purchasing an additional 1,702,342 shares in the last quarter. State Street Corp boosted its holdings in NIKE by 2.2% in the 4th quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after purchasing an additional 1,275,494 shares in the last quarter. Capital World Investors increased its position in NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock worth $3,126,246,000 after purchasing an additional 6,830,938 shares during the period. J. Stern & Co. LLP increased its position in NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after purchasing an additional 47,956,692 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of NIKE by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock worth $1,677,251,000 after buying an additional 233,925 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

NIKE Company Profile

(Get Free Report)

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

Further Reading

Analyst Recommendations for NIKE (NYSE:NKE)

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