NIKE (NYSE:NKE) Given Market Perform Rating at Telsey Advisory Group

NIKE (NYSE:NKE)‘s stock had its “market perform” rating reaffirmed by investment analysts at Telsey Advisory Group in a report released on Wednesday,Benzinga reports. They presently have a $80.00 price objective on the footwear maker’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 3.65% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Robert W. Baird cut their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Stifel Nicolaus cut their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Evercore ISI cut their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Truist Financial cut their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Trading Up 0.5 %

Shares of NIKE stock opened at $77.19 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE has a 12-month low of $68.62 and a 12-month high of $106.62. The firm has a market capitalization of $114.17 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 2.53 and a beta of 1.01. The firm’s 50 day simple moving average is $74.33 and its two-hundred day simple moving average is $78.05.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the business posted $1.03 EPS. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. Analysts predict that NIKE will post 2.05 EPS for the current year.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated 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. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its position in NIKE by 187.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock worth $28,641,000 after purchasing an additional 211,461 shares during the last quarter. Raleigh Capital Management Inc. increased its position in NIKE by 25.5% during the third quarter. Raleigh Capital Management Inc. now owns 3,478 shares of the footwear maker’s stock worth $307,000 after purchasing an additional 706 shares during the last quarter. Foundations Investment Advisors LLC increased its position in NIKE by 26.5% during the third quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock worth $425,000 after purchasing an additional 1,006 shares during the last quarter. Oakworth Capital Inc. increased its position in NIKE by 37.8% during the third quarter. Oakworth Capital Inc. now owns 2,066 shares of the footwear maker’s stock worth $183,000 after purchasing an additional 567 shares during the last quarter. Finally, Eastern Bank increased its position in NIKE by 250.9% during the third quarter. Eastern Bank now owns 17,532 shares of the footwear maker’s stock worth $1,550,000 after purchasing an additional 12,535 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.