NIKE (NYSE:NKE – Get Free Report) had its target price reduced by equities research analysts at Deutsche Bank Aktiengesellschaft from $95.00 to $92.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the footwear maker’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 12.05% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. KeyCorp restated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Barclays lifted their price target on NIKE from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 18th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. HSBC dropped their price target on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Finally, Guggenheim dropped their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.04.
View Our Latest Analysis on NIKE
NIKE Price Performance
NIKE (NYSE:NKE – Get Free Report) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. Equities research analysts anticipate that NIKE will post 3.04 earnings per share for the current year.
Insider Activity
In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated 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 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. Insiders own 0.50% of the company’s stock.
Hedge Funds Weigh In On NIKE
Several large investors have recently made changes to their positions in NKE. Annapolis Financial Services LLC increased its position in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares in the last quarter. True Wealth Design LLC grew its stake in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the fourth quarter valued at $33,000. Core Wealth Advisors Inc. increased its holdings in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC bought a new position in NIKE in the 4th quarter worth about $38,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
About NIKE
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.
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