NIKE (NYSE:NKE) Now Covered by China Renaissance

China Renaissance assumed coverage on shares of NIKE (NYSE:NKE) in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage set a “hold” rating on the footwear maker’s stock.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC dropped their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday. Stifel Nicolaus decreased their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research report on Monday. Fifteen 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.54.

NIKE Trading Down 0.6 %

Shares of NIKE stock opened at $73.28 on Wednesday. The company has a fifty day moving average of $74.73 and a 200 day moving average of $77.64. NIKE has a fifty-two week low of $68.62 and a fifty-two week high of $101.92. The company has a market capitalization of $108.38 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.52 and a beta of 1.02. 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 (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) 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 firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the company earned $1.03 EPS. The business’s revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on 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 transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE 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 transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Several institutional investors have recently modified their holdings of NKE. Empowered Funds LLC increased its position in shares of NIKE by 10.7% during the 3rd quarter. Empowered Funds LLC now owns 23,214 shares of the footwear maker’s stock worth $2,052,000 after purchasing an additional 2,243 shares during the last quarter. Thrivent Financial for Lutherans increased its position in NIKE by 4.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock worth $5,875,000 after buying an additional 2,843 shares during the period. Tranquility Partners LLC bought a new position in NIKE during the 3rd quarter worth $211,000. Prospera Financial Services Inc grew its holdings in shares of NIKE by 13.5% during the 3rd quarter. Prospera Financial Services Inc now owns 50,991 shares of the footwear maker’s stock worth $4,508,000 after purchasing an additional 6,066 shares in the last quarter. Finally, West Family Investments Inc. acquired a new stake in shares of NIKE during the 3rd quarter worth $342,000. Institutional investors own 64.25% of the company’s stock.

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.