NIKE (NYSE:NKE) Price Target Reduced to $121.00

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NIKE (NYSE: NKE – Get a rating) saw its price target lowered by Wedbush analysts from $130.00 to $121.00 in a note released to investors on Friday, Fly reports. Wedbush’s price target would point to a potential upside of 11.28% from the company’s previous close.

NKE has been the subject of a number of other research reports. UBS Group reduced its price target on NIKE from $168.00 to $156.00 in a Friday, July 15 research report. Wells Fargo & Company cut its price target on NIKE from $150.00 to $130.00 and set an “overweight” rating on the stock in a Tuesday, June 28 research report. Morgan Stanley lowered its price target on NIKE from $159.00 to $149.00 and set an “overweight” rating on the stock in a Tuesday, June 28 research report. Credit Suisse Group set a target price of $130.00 on NIKE in a research report on Wednesday, June 29. Finally, HSBC lowered its price target on NIKE from $140.00 to $132.00 and set a “hold” rating on the stock in a Tuesday, June 14 research report. Eleven analysts gave the stock a hold rating and twenty gave the stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.12.

NIKE stock up 0.2%

NKE stock opened at $108.73 on Friday. The company has a debt ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. The stock has a market capitalization of $170.55 billion, a price/earnings ratio of 28.92, a PEG ratio of 2.29 and a beta of 1.03. The company’s fifty-day moving average price is $109.53 and its two-hundred-day moving average price is $117.84. NIKE has a fifty-two week low of $99.53 and a fifty-two week high of $179.10.

NIKE (NYSE: NKE – Get a rating) last released its quarterly results on Monday, June 27. The shoemaker reported EPS of $0.90 for the quarter, beating analyst consensus estimates of $0.81 by $0.09. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company posted revenue of $12.20 billion for the quarter, versus $12.10 billion expected by analysts. In the same quarter last year, the company earned $0.93 per share. NIKE revenue was down 0.8% year over year. On average, stock analysts expect NIKE to post earnings per share of 3.79 for the current year.

NIKE announced that its board of directors launched a stock repurchase program on Monday, June 27 that authorizes the company to repurchase $18.00 billion in stock. This repurchase authorization authorizes the shoe manufacturer to repurchase up to 11% of its stock through purchases on the open market. Stock buyback programs are usually a sign that a company’s management believes its stock is undervalued.

Insider buying and selling

In related news, COO Andre Campion sold 5,922 shares of the company in a trade on Wednesday, August 3. The stock was sold at an average price of $113.42, for a total transaction of $671,673.24. Following the completion of the sale, the COO now owns 75,295 shares of the company, valued at $8,539,958.90. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this link. In other news, CFO Matthew friend sold 9,032 shares of the company in a transaction on Monday, June 13. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. As a result of the transaction, the CFO now owns 51,581 shares of the company, valued at approximately $5,700,732.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, COO Andre Campion sold 5,922 shares of the company in a trade on Wednesday, August 3. The shares were sold at an average price of $113.42, for a total value of $671,673.24. Following the transaction, the COO now directly owns 75,295 shares of the company, valued at approximately $8,539,958.90. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 68,593 shares of the company worth $7,372,310. 0.40% of the shares are held by insiders.

Institutional entries and exits

A number of institutional investors have recently changed their positions in NKE. FNY Investment Advisers LLC bought a new position in NIKE in Q1 worth approximately $26,000. LFA Lugano Financial Advisors SA increased its position in NIKE shares by 63.3% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 258 shares of the shoemaker valued at $26,000 after buying 100 more shares in the last quarter. Antonetti Capital Management LLC increased its position in NIKE shares by 900.0% during the 1st quarter. Antonetti Capital Management LLC now owns 200 shares of the shoemaker valued at $27,000 after buying an additional 180 shares in the last quarter. Alpha Paradigm Partners LLC bought a new position in NIKE stock during Q4, valued at approximately $31,000. Finally, Worth Asset Management LLC bought a new position in NIKE stock during Q1 worth approximately $32,000. Hedge funds and other institutional investors own 64.19% of the company’s shares.

About NIKE

(Get a rating)

NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for men, women and children worldwide. The Company provides athletic and recreational footwear, apparel and accessories under the Jumpman brand; and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.

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