NIKE (NYSE:NKE) Lifted to Buy at StockNews.com

NIKE (NYSE:NKE - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Wednesday.

Several other analysts have also recently weighed in on the company. Piper Sandler lowered their price target on NIKE from $107.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, March 22nd. Wells Fargo & Company dropped their target price on shares of NIKE from $125.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, March 22nd. Citigroup decreased their price target on shares of NIKE from $135.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, March 14th. Robert W. Baird dropped their price objective on shares of NIKE from $140.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, March 22nd. Finally, HSBC reduced their target price on NIKE from $120.00 to $115.00 and set a "hold" rating on the stock in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $116.26.

NIKE Stock Performance

Shares of NYSE:NKE traded down $1.10 during midday trading on Wednesday, reaching $91.69. 15,611,067 shares of the company traded hands, compared to its average volume of 9,218,383. The firm's fifty day moving average price is $94.39 and its two-hundred day moving average price is $102.58. The firm has a market capitalization of $138.39 billion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE has a 12 month low of $88.66 and a 12 month high of $123.39.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. On average, equities analysts expect that NIKE will post 3.73 earnings per share for the current year.

Insider Transactions at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the business's stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following 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 SEC, which can be accessed through the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of the 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 owns 730 shares of the company's stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is currently owned by insiders.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker's stock valued at $10,342,012,000 after buying an additional 501,792 shares during the last quarter. Capital International Investors increased its holdings in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker's stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares in the last quarter. FMR LLC raised its position in shares of NIKE by 0.7% in the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker's stock worth $1,769,200,000 after purchasing an additional 125,746 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker's stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Finally, Northern Trust Corp grew its position in NIKE by 4.5% during the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker's stock valued at $1,487,625,000 after purchasing an additional 674,198 shares during the last quarter. 64.25% of the stock is 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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