The Goldman Sachs Group Lowers NIKE (NYSE:NKE) Price Target to $105.00

NIKE (NYSE:NKE) had its price target reduced by research analysts at The Goldman Sachs Group from $118.00 to $105.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the footwear maker’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 37.94% from the stock’s previous close.

Several other equities analysts have also recently issued reports on NKE. Wells Fargo & Company decreased their price objective on NIKE from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, June 10th. Robert W. Baird decreased their price target on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial dropped their price objective on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research note on Friday. Finally, Jefferies Financial Group decreased their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.33.

NIKE Stock Down 19.2 %

Shares of NYSE NKE traded down $18.07 during trading hours on Friday, hitting $76.12. 65,840,098 shares of the stock were exchanged, compared to its average volume of 9,770,125. The company has a market cap of $114.89 billion, a PE ratio of 22.39, a PEG ratio of 1.79 and a beta of 1.05. NIKE has a 12 month low of $75.75 and a 12 month high of $123.39. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $93.70 and a 200-day moving average price of $99.48.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. On average, sell-side analysts expect that NIKE will post 3.81 EPS for the current year.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. NBW Capital LLC boosted its holdings in NIKE by 0.9% during the first quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock worth $4,468,000 after buying an additional 431 shares in the last quarter. IMS Capital Management boosted its stake in shares of NIKE by 2.7% during the 1st quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock worth $2,127,000 after acquiring an additional 589 shares in the last quarter. American Trust grew its holdings in shares of NIKE by 9.5% in the 1st quarter. American Trust now owns 44,107 shares of the footwear maker’s stock worth $4,145,000 after acquiring an additional 3,833 shares during the last quarter. Portland Hill Asset Management Ltd acquired a new stake in shares of NIKE during the first quarter worth $958,000. Finally, Soltis Investment Advisors LLC lifted its holdings in shares of NIKE by 62.6% during the first quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock valued at $2,675,000 after purchasing an additional 10,958 shares during the last quarter. 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.