NIKE (NYSE:NKE) Price Target Increased to $85.00 by Analysts at Jefferies Financial Group

NIKE (NYSE:NKE) had its target price upped by research analysts at Jefferies Financial Group from $80.00 to $85.00 in a report released on Monday, Benzinga reports. The firm presently has a “hold” rating on the footwear maker’s stock. Jefferies Financial Group’s price target would indicate a potential downside of 4.63% from the company’s current price.

NKE has been the subject of several other research reports. Piper Sandler restated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Guggenheim cut their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 28th. JPMorgan Chase & Co. cut their price objective on NIKE from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Citigroup cut their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, The Goldman Sachs Group cut their price objective on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.70.

NIKE Trading Up 0.8 %

Shares of NKE stock opened at $89.13 on Monday. 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 firm has a market capitalization of $134.53 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The stock has a fifty day moving average of $80.26 and a two-hundred day moving average of $86.41. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value 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 disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Annapolis Financial Services LLC boosted its stake in shares of 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 in the last quarter. True Wealth Design LLC boosted its stake 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 in the last quarter. Core Wealth Advisors Inc. boosted its stake in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE during the 4th quarter worth about $33,000. Finally, Pineridge Advisors LLC bought a new stake in shares of NIKE during the 4th quarter worth about $38,000. 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.