NIKE (NYSE:NKE) PT Lowered to $97.00 at Wedbush

NIKE (NYSE:NKE) had its price objective cut by investment analysts at Wedbush from $115.00 to $97.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the footwear maker’s stock. Wedbush’s price objective would suggest a potential upside of 2.95% from the stock’s current price.

NKE has been the topic of a number of other research reports. Williams Trading reaffirmed a “sell” rating and set a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Robert W. Baird cut their price target on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Evercore ISI lowered their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday. Stifel Nicolaus reissued a “hold” rating and issued a $88.00 price target (down previously from $117.00) on shares of NIKE in a report on Friday. Finally, TD Cowen decreased their price objective on shares of NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.78.

NIKE Price Performance

Shares of NKE opened at $94.23 on Friday. The company has a market capitalization of $142.22 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.79 and a beta of 1.05. The business’s 50-day moving average is $93.70 and its two-hundred day moving average is $99.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE has a fifty-two week low of $88.66 and a fifty-two week high of $123.39.

Insider Buying and Selling

In other news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE 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 value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred 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 sale, 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. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% in the 1st 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 in the last quarter. Iron Horse Wealth Management LLC grew its holdings in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. purchased a new position in NIKE in the fourth quarter worth $29,000. True Wealth Design LLC lifted its holdings in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.