NIKE (NYSE:NKE) Earns "Neutral" Rating from Berenberg Bank

Key Points

• Berenberg Bank reaffirmed a "neutral" rating on NIKE, and analysts are divided—NIKE's consensus is Hold with an average price target of $62.34 after several firms trimmed targets.
• Shares trade near $43.43 (52‑week low $42.09) despite a slight quarterly EPS beat ($0.35 vs. $0.29), and significant insider buys — including CEO Elliott Hill's $1.0M purchase of 23,660 shares — suggest management confidence.

NIKE (NYSE:NKE - Get Free Report)'s stock had its "neutral" rating reaffirmed by Berenberg Bank in a research note issued on Wednesday,MarketScreener reports.

Other analysts have also recently issued reports about the company. Telsey Advisory Group reduced their price target on NIKE from $65.00 to $55.00 and set a "market perform" rating for the company in a report on Wednesday, April 1st. JPMorgan Chase & Co. reissued a "neutral" rating on shares of NIKE in a report on Monday, April 13th. Evercore cut their price target on shares of NIKE from $69.00 to $57.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. HSBC lowered shares of NIKE from a "buy" rating to a "hold" rating and lowered their target price for the stock from $90.00 to $48.00 in a research report on Monday, April 13th. Finally, Royal Bank Of Canada reiterated a "buy" rating on shares of NIKE in a research report on Wednesday, April 1st. Seventeen investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, NIKE currently has a consensus rating of "Hold" and an average price target of $62.34.

NIKE Stock Performance

Shares of NKE stock opened at $43.43 on Wednesday. NIKE has a 52-week low of $42.09 and a 52-week high of $80.17. The stock's 50-day moving average price is $50.94 and its 200 day moving average price is $59.47. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $64.32 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 2.29 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company's quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts forecast that NIKE will post 1.51 EPS for the current year.

Insider Activity

In other news, CEO Elliott Hill bought 23,660 shares of NIKE stock in a transaction on Monday, April 13th. The shares were bought at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the acquisition, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John W. Rogers, Jr. acquired 4,000 shares of the business's stock in a transaction dated Thursday, April 9th. The stock was purchased at an average cost of $43.34 per share, with a total value of $173,360.00. Following the transaction, the director owned 41,022 shares of the company's stock, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 64,441 shares of company stock valued at $2,734,204 in the last 90 days. Company insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently bought and sold shares of NKE. SteelPeak Wealth LLC boosted its holdings in NIKE by 23.2% in the first quarter. SteelPeak Wealth LLC now owns 17,873 shares of the footwear maker's stock valued at $951,000 after acquiring an additional 3,362 shares during the last quarter. Independent Financial Group LLC purchased a new stake in shares of NIKE during the 1st quarter worth about $1,253,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in NIKE during the 1st quarter worth approximately $3,849,000. BCGM Wealth Management LLC raised its holdings in NIKE by 6.4% in the first quarter. BCGM Wealth Management LLC now owns 4,977 shares of the footwear maker's stock valued at $263,000 after buying an additional 301 shares during the period. Finally, Delta Financial Advisors LLC lifted its position in NIKE by 1.3% during the first quarter. Delta Financial Advisors LLC now owns 26,952 shares of the footwear maker's stock valued at $1,424,000 after buying an additional 343 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Company Profile

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).

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