Telsey Advisory Group Reiterates “Market Perform” Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “market perform” rating restated by investment analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They presently have a $80.00 price objective on the footwear maker’s stock. Telsey Advisory Group’s price target points to a potential upside of 3.17% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Truist Financial cut their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Bank of America cut their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Evercore ISI cut their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Wells Fargo & Company decreased their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

NIKE Trading Up 6.2 %

Shares of NIKE stock opened at $77.54 on Wednesday. The firm has a 50-day simple moving average of $74.38 and a two-hundred day simple moving average of $78.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE has a fifty-two week low of $68.62 and a fifty-two week high of $106.62. The company has a market cap of $114.70 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 2.38 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, equities analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of hedge funds and other institutional investors have recently bought and sold shares of NKE. GF Fund Management CO. LTD. acquired a new stake in shares of NIKE during the fourth quarter worth about $3,211,000. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of NIKE in the fourth quarter valued at approximately $2,466,000. Neo Ivy Capital Management increased its stake in NIKE by 308.6% during the 4th quarter. Neo Ivy Capital Management now owns 108,441 shares of the footwear maker’s stock worth $8,205,000 after buying an additional 81,901 shares during the period. Sunbelt Securities Inc. lifted its holdings in NIKE by 22.0% during the 4th quarter. Sunbelt Securities Inc. now owns 4,259 shares of the footwear maker’s stock worth $318,000 after buying an additional 768 shares in the last quarter. Finally, GTS Securities LLC boosted its position in NIKE by 104.6% in the 4th quarter. GTS Securities LLC now owns 13,274 shares of the footwear maker’s stock valued at $1,004,000 after buying an additional 300,437 shares during the period. 64.25% of the stock is currently owned by hedge funds and other 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.