NIKE (NYSE:NKE) Price Target Lowered to $75.00 at Stifel Nicolaus

NIKE (NYSE:NKE - Get Free Report) had its price target decreased by Stifel Nicolaus from $79.00 to $75.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "hold" rating on the footwear maker's stock. Stifel Nicolaus' price objective points to a potential downside of 2.52% from the stock's previous close.

NKE has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price objective on NIKE from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Monday, December 2nd. TD Cowen reduced their price target on shares of NIKE from $78.00 to $73.00 and set a "hold" rating on the stock in a research report on Monday, November 18th. Morgan Stanley decreased their price objective on shares of NIKE from $80.00 to $74.00 and set an "equal weight" rating for the company in a research note on Friday. Piper Sandler reissued a "neutral" rating and issued a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Finally, Truist Financial raised shares of NIKE from a "hold" rating to a "buy" rating and upped their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average target price of $89.77.

NIKE Trading Down 0.2 %

Shares of NKE traded down $0.16 during mid-day trading on Friday, hitting $76.94. The company had a trading volume of 49,808,547 shares, compared to its average volume of 11,716,173. NIKE has a 1-year low of $70.75 and a 1-year high of $123.30. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The business's 50-day simple moving average is $78.07 and its 200-day simple moving average is $80.65. The stock has a market cap of $115.36 billion, a PE ratio of 22.05, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 EPS. Sell-side analysts forecast that NIKE will post 2.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NKE. State Street Corp increased its stake in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP grew its holdings in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock worth $2,425,886,000 after buying an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC increased its position in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock valued at $2,204,451,000 after acquiring an additional 251,411 shares during the period. Legal & General Group Plc raised its stake in NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker's stock valued at $832,785,000 after acquiring an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock worth $910,801,000 after acquiring an additional 583,207 shares during the period. 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.