NIKE (NYSE:NKE) PT Raised to $85.00

NIKE (NYSE:NKE) had its price objective lifted by analysts at Jefferies Financial Group from $80.00 to $85.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the footwear maker’s stock. Jefferies Financial Group’s price objective points to a potential downside of 4.63% from the stock’s previous close.

NKE has been the topic of several other reports. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Bank of America reiterated a “buy” rating and set a $104.00 target price on shares of NIKE in a report on Monday, September 23rd. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. BMO Capital Markets dropped their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Finally, Stifel Nicolaus dropped their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $96.70.

NIKE Stock Performance

NYSE NKE opened at $89.13 on Monday. The firm has a market capitalization of $134.53 billion, a P/E ratio of 23.90, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The business’s 50-day simple moving average is $80.26 and its 200-day simple moving average is $86.41.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cim LLC acquired a new position in NIKE during the 4th quarter valued at approximately $14,275,000. TKG Advisors LLC acquired a new position in NIKE during the 4th quarter worth $1,012,000. Spartan Planning & Wealth Management acquired a new position in NIKE during the 4th quarter worth $182,000. Advisors Asset Management Inc. boosted its position in NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares during the period. Finally, Enzi Wealth acquired a new position in NIKE during the 4th quarter worth $520,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.