NIKE (NYSE:NKE) Earns Sector Weight Rating from KeyCorp

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

NKE has been the subject of a number of other research reports. The Goldman Sachs Group cut their price target 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. Piper Sandler dropped their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. TD Cowen dropped their price objective on shares of NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research note on Thursday, June 13th. Finally, StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $102.89.

NIKE Price Performance

Shares of NYSE NKE traded down $18.00 during midday trading on Friday, reaching $76.19. The company’s stock had a trading volume of 45,896,106 shares, compared to its average volume of 9,568,646. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company has a market cap of $115.00 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.79 and a beta of 1.05. The business’s 50 day moving average price is $93.70 and its two-hundred day moving average price is $99.48. NIKE has a fifty-two week low of $75.90 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. On average, analysts forecast that NIKE will post 3.81 EPS for the current fiscal year.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Johanna Nielsen sold 282 shares of NIKE 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 transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 over the last three months. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NKE. Vanguard Group Inc. grew its position in shares of NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after buying an additional 501,792 shares during the period. Capital International Investors grew its position in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the period. Norges Bank purchased a new stake in shares of NIKE in the 4th quarter worth about $1,315,097,000. Finally, Fisher Asset Management LLC grew its position in shares of NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after buying an additional 219,091 shares during the period. 64.25% of the stock is 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.