Cowen Cuts NIKE (NYSE:NKE) Price Target to $133.00

NIKE (NYSE:NKEGet Rating) had its target price lowered by equities researchers at Cowen from $139.00 to $133.00 in a research note issued on Thursday, The Fly reports. Cowen’s target price would suggest a potential upside of 26.76% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Wedbush dropped their price objective on NIKE from $163.00 to $139.00 in a report on Friday, May 13th. Sanford C. Bernstein initiated coverage on NIKE in a report on Monday, March 14th. They set an “outperform” rating and a $160.00 price objective on the stock. Stifel Nicolaus dropped their price objective on NIKE from $160.00 to $150.00 in a report on Monday, June 6th. Wells Fargo & Company dropped their price objective on NIKE from $165.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 1st. Finally, BMO Capital Markets dropped their price objective on NIKE from $170.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, March 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.96.

NYSE NKE opened at $104.92 on Thursday. The firm has a market capitalization of $165.12 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.74 and a beta of 0.96. NIKE has a 1-year low of $103.46 and a 1-year high of $179.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.06 and a quick ratio of 2.18. The business’s 50-day simple moving average is $117.72 and its 200-day simple moving average is $135.48.

NIKE (NYSE:NKEGet Rating) last released its quarterly earnings results on Monday, March 21st. The footwear maker reported $0.87 EPS for the quarter, topping the consensus estimate of $0.73 by $0.14. The firm had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.61 billion. NIKE had a return on equity of 43.04% and a net margin of 13.06%. NIKE’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. On average, equities research analysts expect that NIKE will post 3.68 EPS for the current fiscal year.

In related news, COO Andrew Campion sold 14,203 shares of the company’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $120.61, for a total transaction of $1,713,023.83. Following the transaction, the chief operating officer now directly owns 73,795 shares of the company’s stock, valued at $8,900,414.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Friend sold 9,032 shares of the company’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $110.52, for a total value of $998,216.64. Following the transaction, the chief financial officer now directly owns 51,581 shares in the company, valued at $5,700,732.12. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of NIKE by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 107,022,020 shares of the footwear maker’s stock worth $14,400,882,000 after acquiring an additional 662,243 shares in the last quarter. BlackRock Inc. boosted its stake in shares of NIKE by 0.6% during the 1st quarter. BlackRock Inc. now owns 90,518,050 shares of the footwear maker’s stock worth $12,180,110,000 after acquiring an additional 553,087 shares in the last quarter. State Street Corp boosted its stake in shares of NIKE by 3.6% during the 4th quarter. State Street Corp now owns 56,598,375 shares of the footwear maker’s stock worth $9,433,251,000 after acquiring an additional 1,969,270 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NIKE by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,444,116 shares of the footwear maker’s stock worth $3,564,786,000 after acquiring an additional 601,940 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of NIKE by 9.0% during the 1st quarter. Wellington Management Group LLP now owns 18,040,233 shares of the footwear maker’s stock worth $2,427,495,000 after acquiring an additional 1,486,421 shares in the last quarter. 65.35% of the stock is currently owned by institutional investors.

NIKE Company Profile (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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