NIKE (NYSE:NKE) Stock Price Target Cut by The Goldman Sachs Group

NIKE (NYSE:NKE) had its price target dropped by analysts at The Goldman Sachs Group from $42.00 to $38.00 in a report issued on Friday. The brokerage currently has a “neutral” rating on the footwear maker’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 6.23% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings raised shares of NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 17th. BTIG Research reissued a “buy” rating and set a $55.00 price target on shares of NIKE in a report on Wednesday. Telsey Advisory Group set a $44.00 price objective on shares of NIKE and gave the company a “market perform” rating in a report on Tuesday, September 15th. Argus raised NIKE to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty-one have given a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.80.

NIKE Trading Down 0.6%

Shares of NIKE stock opened at $35.77 on Friday. The firm’s 50 day simple moving average is $39.58 and its two-hundred day simple moving average is $43.57. The firm has a market capitalization of $53.06 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 1.84 and a beta of 1.10. NIKE has a 12-month low of $35.22 and a 12-month high of $76.97. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. Analysts predict that NIKE will post 1.67 EPS for the current year.

Insider Buying and Selling

In other NIKE news, COO Venkatesh Alagirisamy sold 3,671 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $137,992.89. Following the sale, the chief operating officer owned 104,862 shares in the company, valued at $3,941,762.58. This represents a 3.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $96,192.81. Following the completion of the sale, the executive vice president directly owned 78,121 shares in the company, valued at $2,936,568.39. This represents a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,974 shares of company stock valued at $600,126 in the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Trading of NIKE

Hedge funds have recently added to or reduced their stakes in the company. J. Stern & Co. LLP grew its holdings in NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after acquiring an additional 47,956,692 shares in the last quarter. Norges Bank acquired a new stake in shares of NIKE during the fourth quarter worth about $829,956,000. Flossbach Von Storch SE purchased a new stake in shares of NIKE in the 2nd quarter valued at about $488,714,000. Capital World Investors lifted its holdings in shares of NIKE by 16.2% in the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of NIKE by 6.8% in the 2nd quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock valued at $2,636,104,000 after purchasing an additional 4,052,428 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: BTIG reaffirmed a Buy rating, providing a counterpoint to the more cautious analyst views. NIKE also recently signed a reported $200 million partnership with the University of Miami, potentially supporting its college-sports presence. BTIG Research Reaffirms Buy Rating for NIKE Nike University of Miami Partnership
• Neutral Sentiment: NIKE is scheduled to report fiscal first-quarter results on October 1. Investors will look for evidence of improving demand, inventory normalization and progress in China; options markets imply a potentially significant post-earnings move. Nike Earnings Expectations
• Negative Sentiment: Bank of America downgraded NIKE to Underperform from Neutral and cut its price target to $30 from $47. The firm now expects sales to keep falling through May, pushing the anticipated recovery back by roughly a year—potentially to fiscal 2028—and eliminating hopes for a near-term “spring inflection.” Bank of America Nike Downgrade
• Negative Sentiment: The bearish view reflects pressure on wholesale sales and distribution channels, weak demand and excess inventory in China, softer consumer trends, and concerns about product innovation. Bank of America also reduced its valuation multiple, while other analysts have trimmed earnings estimates ahead of the report. Nike Channel and China Pressures

About NIKE

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.