NIKE’s (NKE) Outperform Rating Reaffirmed at Oppenheimer

NIKE (NYSE:NKE)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Oppenheimer in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $120.00 price objective on the footwear maker’s stock. Oppenheimer’s price target suggests a potential upside of 27.35% from the stock’s current price.

Several other analysts have also weighed in on the stock. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $122.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Piper Sandler decreased their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Barclays decreased their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Finally, Robert W. Baird decreased their price target on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.00.

NIKE Stock Performance

NYSE NKE opened at $94.23 on Friday. The firm has a market cap of $142.22 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.79 and a beta of 1.05. The company has a 50 day moving average of $93.70 and a 200-day moving average of $99.48. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE has a 1-year low of $88.66 and a 1-year high of $123.39.

Insider Buying and Selling

In related news, VP Johanna Nielsen sold 282 shares of the firm’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 sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Johanna Nielsen sold 282 shares of the firm’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 sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction 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 owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock worth $19,946,333 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in NIKE in the 4th quarter valued at $1,315,097,000. Price T Rowe Associates Inc. MD increased 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 valued at $1,860,395,000 after buying an additional 7,996,434 shares during the last quarter. Capital International Investors increased its stake in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares during the last quarter. Longview Partners Guernsey LTD acquired a new stake in NIKE in the 1st quarter valued at $533,533,000. Finally, Capital World Investors increased its stake in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.