NIKE (NYSE:NKE) Stock Rating Reaffirmed by KeyCorp

NIKE (NYSE:NKE)‘s stock had its “sector weight” rating restated by KeyCorp in a report issued on Friday, Benzinga reports.

NKE has been the subject of a number of other reports. TD Cowen decreased their price objective on shares of NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a report on Friday. The Goldman Sachs Group decreased their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Raymond James reiterated a “market perform” rating on shares of NIKE in a research note on Friday. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $79.00 target price (down from $114.00) on shares of NIKE in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.96.

NIKE Price Performance

Shares of NYSE NKE opened at $75.37 on Friday. NIKE has a twelve month low of $74.55 and a twelve month high of $123.39. The firm has a market cap of $113.76 billion, a P/E ratio of 20.21, a PEG ratio of 1.79 and a beta of 1.05. The company has a 50 day moving average of $93.28 and a 200 day moving average of $99.00. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts expect that NIKE will post 3.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated 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 approximately $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were 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 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

Several hedge funds have recently made changes to their positions in the business. Iron Horse Wealth Management LLC raised its position in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Annapolis Financial Services LLC raised its position in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the period. Planned Solutions Inc. purchased a new stake in NIKE in the 4th quarter worth about $29,000. True Wealth Design LLC raised its position in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Finally, Core Wealth Advisors Inc. raised its position in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.