NIKE (NYSE:NKE) PT Lowered to $113.00

NIKE (NYSE:NKEGet Rating) had its target price decreased by investment analysts at Citigroup from $116.00 to $113.00 in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a “neutral” rating on the footwear maker’s stock. Citigroup’s target price would suggest a potential upside of 14.66% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Morgan Stanley lowered their target price on shares of NIKE from $159.00 to $149.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th. UBS Group set a $156.00 price target on shares of NIKE in a report on Monday. BNP Paribas downgraded shares of NIKE from an “outperform” rating to a “neutral” rating and set a $118.00 price target on the stock. in a report on Tuesday, August 9th. JPMorgan Chase & Co. set a $130.00 price target on shares of NIKE in a report on Wednesday, August 10th. Finally, Robert W. Baird reduced their price target on shares of NIKE from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $132.77.

NIKE Trading Down 1.2 %

Shares of NKE opened at $98.55 on Wednesday. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average is $109.72 and its two-hundred day moving average is $115.81. NIKE has a twelve month low of $97.83 and a twelve month high of $179.10. The firm has a market capitalization of $154.58 billion, a P/E ratio of 26.21, a PEG ratio of 2.17 and a beta of 1.03.

NIKE (NYSE:NKEGet Rating) last issued its earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.09. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $12.10 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts predict that NIKE will post 3.78 earnings per share for the current fiscal year.

NIKE announced that its board has initiated a stock repurchase program on Monday, June 27th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the footwear maker to reacquire up to 11% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at NIKE

In other news, EVP Monique S. Matheson sold 30,000 shares of the stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $107.19, for a total value of $3,215,700.00. Following the completion of the sale, the executive vice president now owns 60,330 shares of the company’s stock, valued at $6,466,772.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Andrew Campion sold 5,922 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total transaction of $671,673.24. Following the completion of the sale, the chief operating officer now directly owns 75,295 shares of the company’s stock, valued at approximately $8,539,958.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 30,000 shares of the firm’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the sale, the executive vice president now directly owns 60,330 shares of the company’s stock, valued at $6,466,772.70. The disclosure for this sale can be found here. Insiders sold 59,561 shares of company stock valued at $6,374,094 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On NIKE

Large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in NIKE during the 1st quarter valued at $26,000. LFA Lugano Financial Advisors SA boosted its stake in NIKE by 63.3% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 258 shares of the footwear maker’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Antonetti Capital Management LLC boosted its stake in NIKE by 900.0% during the 1st quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker’s stock valued at $27,000 after acquiring an additional 180 shares during the last quarter. Alpha Paradigm Partners LLC bought a new position in NIKE during the 4th quarter valued at $31,000. Finally, Worth Asset Management LLC bought a new position in NIKE during the 1st quarter valued at $32,000. 64.19% of the stock is owned by institutional investors and hedge funds.

About NIKE

(Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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