NIKE (NYSE:NKE) Given New $33.00 Price Target at JPMorgan Chase & Co.

NIKE (NYSE:NKE) had its price target reduced by analysts at JPMorgan Chase & Co. from $40.00 to $33.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the footwear maker’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 0.37% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Jefferies Financial Group set a $60.00 price target on shares of NIKE in a research note on Friday. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $45.00 target price on shares of NIKE in a report on Friday. Barclays reiterated an “overweight” rating and set a $48.00 price target (down from $52.00) on shares of NIKE in a report on Wednesday, September 23rd. Truist Financial set a $29.00 price target on shares of NIKE and gave the company a “hold” rating in a research report on Friday. Finally, Guggenheim reaffirmed a “buy” rating and issued a $50.00 price objective (down from $60.00) on shares of NIKE in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-two have assigned a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.06.

NIKE Price Performance

Shares of NKE traded down $2.03 during midday trading on Friday, hitting $33.12. 82,663,584 shares of the company traded hands, compared to its average volume of 23,793,145. NIKE has a one year low of $31.97 and a one year high of $74.78. The firm has a market cap of $49.14 billion, a P/E ratio of 15.87, a PEG ratio of 2.43 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The stock has a 50-day moving average of $39.04 and a 200-day moving average of $42.94.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. The firm had revenue of $11.21 billion during the quarter, compared to the consensus estimate of $11.32 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, sell-side analysts predict that NIKE will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Matthew Friend sold 2,463 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the transaction, the chief financial officer directly owned 82,165 shares in the company, valued at approximately $3,418,064. The trade was a 2.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $137,992.89. Following the completion of the sale, the chief operating officer directly owned 104,862 shares of the company’s stock, valued at $3,941,762.58. This represents a 3.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,974 shares of company stock valued at $600,126 over the last three months. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Confluence Investment Management LLC lifted its stake in shares of NIKE by 873.8% during the 3rd quarter. Confluence Investment Management LLC now owns 2,720,616 shares of the footwear maker’s stock valued at $96,310,000 after buying an additional 2,441,233 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of NIKE by 8.5% in the second quarter. QRG Capital Management Inc. now owns 106,883 shares of the footwear maker’s stock valued at $4,388,000 after acquiring an additional 8,338 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of NIKE by 214.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 32,596 shares of the footwear maker’s stock worth $1,338,000 after acquiring an additional 22,215 shares during the period. Envestnet Asset Management Inc. grew its position in shares of NIKE by 98.4% during the second quarter. Envestnet Asset Management Inc. now owns 2,202,581 shares of the footwear maker’s stock worth $90,416,000 after purchasing an additional 1,092,282 shares in the last quarter. Finally, State Street Corp grew its position in shares of NIKE by 6.8% during the second quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock worth $2,636,104,000 after purchasing an additional 4,052,428 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE reported fiscal first-quarter adjusted earnings of $0.48 per share, exceeding the $0.43 analyst consensus. The company also said its “Sport Offense” is making progress, while its new Caitlin Clark signature shoe nearly sold out shortly after launch. NIKE fiscal 2027 first-quarter results
• Positive Sentiment: NIKE’s Pace restructuring program is intended to generate approximately $2.5 billion in savings over the next three years, potentially improving efficiency and supporting a longer-term recovery. NIKE announces Pace restructuring plan
• Neutral Sentiment: Analysts lowered price targets following the results: Baird and Stifel reduced targets to $36, while BTIG cut its target to $50 but retained a Buy rating. Needham reaffirmed a Hold rating, reflecting uncertainty about the recovery. Analyst reactions to NIKE results
• Negative Sentiment: Revenue was $11.21 billion, below the $11.32 billion consensus and down 4.3% year over year. The shortfall indicates that demand remains weak even though earnings surpassed expectations. NIKE first-quarter earnings report
• Negative Sentiment: Management expects fiscal 2027 revenue to decline by a high-single-digit percentage and provided EPS guidance of $1.15 to $1.35, well below the roughly $1.66 analyst expectation. The company warned that resets in Sportswear, Jordan and Greater China will worsen before improving, particularly as local competition pressures China sales. NIKE forecasts steep revenue drop
• Negative Sentiment: NIKE plans additional job cuts in fiscal 2027 after two rounds of staff reductions this year. The layoffs and restructuring announcement signal that management expects a longer, more painful turnaround, weighing on investor confidence despite the company’s dividend yield approaching 5%. NIKE shares fall after weak outlook and layoffs

NIKE Company Profile

NIKE, Inc is a global sportswear company that designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and related services. Its products are marketed under the NIKE, Jordan and Converse brands and are used across a broad range of sports and lifestyle activities, including running, basketball, football, training and outdoor pursuits.

The company distributes its products through a combination of wholesale partners, NIKE-owned retail stores and digital platforms.