Morgan Stanley Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE - Get Free Report) had its target price lowered by analysts at Morgan Stanley from $74.00 to $72.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the footwear maker's stock. Morgan Stanley's target price suggests a potential downside of 2.41% from the stock's previous close.

Other research analysts have also issued reports about the company. TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a "hold" rating for the company in a research report on Monday, November 18th. Bank of America lowered their price target on NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a report on Monday, December 16th. Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, Piper Sandler upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $89.54.

NIKE Trading Up 3.0 %

Shares of NKE stock traded up $2.12 on Thursday, hitting $73.78. 15,988,630 shares of the stock traded hands, compared to its average volume of 12,095,181. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE has a twelve month low of $68.62 and a twelve month high of $101.92. The firm's 50-day moving average price is $74.71 and its two-hundred day moving average price is $77.71. The stock has a market capitalization of $109.13 billion, a PE ratio of 22.77, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the business posted $1.03 EPS. NIKE's revenue was down 7.7% on a year-over-year basis. As a group, analysts anticipate that NIKE will post 2.05 EPS for the current year.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP grew its position in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC raised its position in NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after buying an additional 347,178 shares during the last quarter. Capital World Investors raised its holdings in NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. 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.