NIKE, Inc. (NYSE:NKE) has received an average rating of "Reduce" from the forty-one brokerages currently covering the firm, according to Marketbeat Ratings. The ratings breakdown includes twelve "sell" recommendations, twenty-one "hold" ratings, seven "buy" ratings, and one "strong buy." The average 1-year target price among analysts is $40.83.
Recent analyst actions include Guggenheim reiterating a "buy" rating with a $50.00 target price, Weiss Ratings lowering NIKE from a "sell (d+)" to a "sell (d)" rating, and Truist Financial downgrading the stock to "sell" with a $29.00 target price. Raymond James Financial restated a "market perform" rating, while Williams Trading downgraded NIKE from "strong-buy" to "hold."
Insider activity shows EVP Philip McCartney and COO Venkatesh Alagirisamy selling shares of NIKE stock on September 9th. McCartney sold 2,559 shares at $37.59 each, totaling $96,192.81, while Alagirisamy sold 3,671 shares at the same price, totaling $137,992.89. Both transactions were executed under pre-arranged Rule 10b5-1 trading plans.
Institutional investors have also made adjustments to their positions. Ankerstar Wealth LLC increased its stake by 28.2%, Entropy Technologies LP bought a new stake valued at $610,000, and FORA Capital LLC raised its stake by 168.5%. Currently, 64.25% of NIKE's stock is owned by hedge funds and other institutional investors.
Shares of NIKE traded up $0.18 during mid-day trading on Friday, hitting $37.94. The company has a market cap of $56.35 billion, a PE ratio of 18.24, and a beta of 1.01. NIKE reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.43. The company's revenue for the quarter was $11.21 billion, down 4.3% year-over-year.