NIKE (NYSE:NKE) Given New $84.00 Price Target at Barclays

NIKE (NYSE:NKE) had its target price hoisted by Barclays from $80.00 to $84.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the footwear maker’s stock. Barclays‘s price target would indicate a potential upside of 3.68% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. TD Cowen dropped their target price on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Bank of America decreased their price target on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, August 23rd. Finally, Wells Fargo & Company decreased their target price on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.74.

NIKE Trading Up 0.5 %

Shares of NIKE stock traded up $0.38 during trading hours on Wednesday, hitting $81.02. The company’s stock had a trading volume of 2,265,293 shares, compared to its average volume of 11,231,735. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market cap of $122.29 billion, a price-to-earnings ratio of 21.73, a P/E/G ratio of 2.08 and a beta of 1.02. The firm has a fifty day moving average of $77.52 and a 200-day moving average of $87.32. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $0.66 earnings per share. Research analysts forecast that NIKE will post 3.06 EPS for the current year.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Large investors have recently modified their holdings of the business. 9258 Wealth Management LLC grew its stake in shares of NIKE by 23.9% during the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after purchasing an additional 842 shares during the period. Gryphon Financial Partners LLC grew its position in NIKE by 34.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after buying an additional 2,981 shares during the period. TrinityPoint Wealth LLC increased its holdings in NIKE by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after buying an additional 166 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of NIKE by 26.4% during the 4th quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock valued at $66,000 after acquiring an additional 126 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of NIKE by 23.8% during the 4th quarter. Assetmark Inc. now owns 155,913 shares of the footwear maker’s stock worth $16,927,000 after acquiring an additional 29,930 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.