NIKE (NYSE:NKE) Coverage Initiated at Berenberg Bank

Equities researchers at Berenberg Bank started coverage on shares of NIKE (NYSE:NKE) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “hold” rating and a $58.00 price target on the footwear maker’s stock. Berenberg Bank’s target price would suggest a potential upside of 4.75% from the company’s previous close.

Several other equities research analysts have also recently weighed in on NKE. UBS Group reduced their price target on NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Truist Financial reduced their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. Finally, Needham & Company LLC lowered their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Sixteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.15.

NIKE Price Performance

Shares of NKE stock opened at $55.37 on Tuesday. The firm has a market cap of $81.90 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.52 and a beta of 1.15. The business’s 50 day moving average price is $69.65 and its 200-day moving average price is $74.59. NIKE has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. 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 (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period last year, the company posted $0.98 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that NIKE will post 2.05 earnings per share for the current year.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Fiduciary Financial Group LLC grew its holdings in NIKE by 9.1% during the 1st quarter. Fiduciary Financial Group LLC now owns 4,477 shares of the footwear maker’s stock valued at $284,000 after buying an additional 373 shares in the last quarter. GAMMA Investing LLC grew its stake in NIKE by 39.1% during the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after acquiring an additional 5,863 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in NIKE by 32.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 21,766 shares of the footwear maker’s stock valued at $1,382,000 after acquiring an additional 5,291 shares during the last quarter. Olstein Capital Management L.P. lifted its stake in NIKE by 42.2% in the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock worth $5,777,000 after purchasing an additional 27,000 shares in the last quarter. Finally, Regatta Capital Group LLC boosted its holdings in shares of NIKE by 7.7% during the 1st quarter. Regatta Capital Group LLC now owns 36,837 shares of the footwear maker’s stock valued at $2,338,000 after purchasing an additional 2,621 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

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.