NIKE (NYSE:NKE) PT Raised to $95.00 at Wells Fargo & Company

NIKE (NYSE:NKE) had its price target boosted by research analysts at Wells Fargo & Company from $86.00 to $95.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the footwear maker’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 9.80% from the stock’s current price.

A number of other equities research analysts have also recently commented on NKE. Citigroup decreased their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $83.00 price target (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Stifel Nicolaus dropped their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Finally, Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $96.15.

NIKE Stock Performance

NIKE stock opened at $86.52 on Friday. The company has a market cap of $130.59 billion, a PE ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The company’s 50-day moving average is $78.11 and its two-hundred day moving average is $87.06.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts anticipate that NIKE will post 3.06 earnings per share for the current year.

Insider Buying and Selling

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 value of $8,026,700.00. Following the completion of the transaction, 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 SEC, which is accessible through this hyperlink. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Annapolis Financial Services LLC grew its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the last quarter. True Wealth Design LLC boosted its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new position in NIKE in the 4th quarter valued at $33,000. Core Wealth Advisors Inc. increased its position in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE during the fourth quarter worth $36,000. Institutional investors and hedge funds 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.