NIKE (NYSE:NKE) Given New $77.00 Price Target at JPMorgan Chase & Co.

NIKE (NYSE:NKE) had its target price decreased by analysts at JPMorgan Chase & Co. from $80.00 to $77.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the footwear maker’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 8.39% from the stock’s current price.

A number of other research analysts have also commented on the company. Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Bank of America lowered their target price on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Citigroup cut their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Fifteen 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 an average rating of “Moderate Buy” and a consensus target price of $96.07.

NIKE Stock Down 5.7 %

Shares of NKE stock traded down $5.08 during trading hours on Wednesday, hitting $84.05. 18,214,414 shares of the company were exchanged, compared to its average volume of 11,676,231. 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 business’s 50-day simple moving average is $80.26 and its two-hundred day simple moving average is $86.41. NIKE has a one year low of $70.75 and a one year high of $123.39. The stock has a market capitalization of $126.86 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. Sell-side analysts predict that NIKE will post 3.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly 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 Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the business. Annapolis Financial Services LLC boosted its stake in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $33,000. Core Wealth Advisors Inc. boosted its holdings in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the period. Finally, Pineridge Advisors LLC acquired a new position in shares of NIKE in the fourth quarter valued at about $38,000. 64.25% of the stock is 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.