StockNews.com Downgrades NIKE (NYSE:NKE) to Hold

NIKE (NYSE:NKEGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other brokerages also recently commented on NKE. Truist Financial reaffirmed a “hold” rating and issued a $99.00 target price on shares of NIKE in a research note on Thursday. The Goldman Sachs Group dropped their price objective on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Morgan Stanley dropped their price target on NIKE from $116.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Finally, Evercore ISI decreased their price objective on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty 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 $114.81.

Read Our Latest Research Report on NKE

NIKE Stock Up 1.7 %

Shares of NYSE NKE opened at $97.18 on Friday. NIKE has a 1 year low of $88.66 and a 1 year high of $123.39. The firm’s 50-day moving average is $93.60 and its 200-day moving average is $99.91. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $146.68 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05.

NIKE (NYSE:NKEGet Free Report) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Equities analysts expect that NIKE will post 3.76 EPS for the current year.

Insider Activity at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 in the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Trading of NIKE

Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in shares of NIKE by 1.2% in the 3rd quarter. Acadian Asset Management LLC now owns 23,508 shares of the footwear maker’s stock valued at $2,246,000 after purchasing an additional 273 shares in the last quarter. LPL Financial LLC grew its stake in shares of NIKE by 9.5% during the third quarter. LPL Financial LLC now owns 855,143 shares of the footwear maker’s stock worth $81,742,000 after buying an additional 74,451 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of NIKE by 3.2% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 590,640 shares of the footwear maker’s stock worth $56,477,000 after buying an additional 18,125 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in shares of NIKE by 16.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 7,980 shares of the footwear maker’s stock valued at $763,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in shares of NIKE by 33.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 6,559 shares of the footwear maker’s stock valued at $627,000 after acquiring an additional 1,648 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

About NIKE

(Get Free Report)

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.

See Also

Analyst Recommendations for NIKE (NYSE:NKE)

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