NIKE (NYSE:NKE) Given New $86.00 Price Target at JPMorgan Chase & Co.

NIKE (NYSE:NKE) had its price target trimmed by JPMorgan Chase & Co. from $100.00 to $86.00 in a research note issued to investors on Monday,MarketScreener Latest Ratings reports. The firm currently has a buy rating on the footwear maker’s stock.

Several other research firms have also weighed in on NKE. Telsey Advisory Group restated a “market perform” rating and set a $75.00 price target on shares of NIKE in a research report on Wednesday, October 1st. BTIG Research initiated coverage on shares of NIKE in a research note on Tuesday, October 14th. They issued a “buy” rating and a $100.00 target price on the stock. Truist Financial restated a “buy” rating and set a $85.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Morgan Stanley set a $72.00 price objective on NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. Finally, Barclays set a $70.00 price objective on NIKE and gave the company a “positive” rating in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.24.

NIKE Stock Performance

Shares of NIKE stock opened at $62.92 on Monday. NIKE has a 52 week low of $52.28 and a 52 week high of $82.44. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $68.27 and a 200-day moving average price of $68.86. The company has a market cap of $93.01 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. Equities analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the sale, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This represents a 11.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of large investors have recently modified their holdings of the company. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in NIKE by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after purchasing an additional 134 shares in the last quarter. Main Street Financial Solutions LLC raised its position in shares of NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after buying an additional 139 shares in the last quarter. St. Clair Advisors LLC boosted its stake in NIKE by 0.9% during the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock valued at $1,061,000 after buying an additional 140 shares during the period. Caldwell Sutter Capital Inc. grew its position in NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after buying an additional 142 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its stake in NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after acquiring an additional 145 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

About NIKE

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.