Nike, Inc. (NYSE:NKE) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They presently have a $55.11 price objective on the footwear maker’s stock. Vetr‘s target price would suggest a potential upside of 3.43% from the company’s current price.

A number of other analysts have also recently issued reports on NKE. Deutsche Bank AG lifted their price objective on Nike from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, March 8th. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price objective on shares of Nike in a research report on Saturday, March 11th. Morgan Stanley set a $56.00 price objective on Nike and gave the company a “neutral” rating in a research report on Monday, March 13th. Credit Suisse Group set a $67.00 price objective on Nike and gave the company a “buy” rating in a research report on Tuesday, March 14th. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $51.00 price objective on shares of Nike in a research report on Thursday, March 16th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nineteen have assigned a buy rating to the company. Nike has a consensus rating of “Hold” and a consensus target price of $60.19.

Shares of Nike (NKE) traded up 0.81% during mid-day trading on Monday, hitting $53.28. The company had a trading volume of 7,966,219 shares. The company has a market cap of $87.95 billion, a PE ratio of 22.23 and a beta of 0.47. Nike has a 12 month low of $49.01 and a 12 month high of $60.33. The firm has a 50-day moving average of $53.14 and a 200-day moving average of $54.21.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Monday, June 5th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, June 1st. Nike’s payout ratio is currently 30.00%.

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In other news, Chairman Mark G. Parker sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $55.50, for a total value of $5,550,000.00. Following the transaction, the chairman now directly owns 1,966,235 shares of the company’s stock, valued at approximately $109,126,042.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $57.00, for a total value of $2,850,000.00. Following the completion of the transaction, the insider now directly owns 300,108 shares in the company, valued at $17,106,156. The disclosure for this sale can be found here. Insiders sold a total of 329,000 shares of company stock worth $18,430,300 over the last three months. 3.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Nike by 4.2% in the first quarter. Vanguard Group Inc. now owns 97,152,415 shares of the footwear maker’s stock valued at $5,414,304,000 after buying an additional 3,925,394 shares in the last quarter. BlackRock Inc. increased its position in Nike by 2,576.9% in the first quarter. BlackRock Inc. now owns 80,846,138 shares of the footwear maker’s stock valued at $4,505,554,000 after buying an additional 77,826,052 shares in the last quarter. State Street Corp increased its position in Nike by 1.4% in the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after buying an additional 835,003 shares in the last quarter. Wellington Management Group LLP increased its position in Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Nike by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after buying an additional 144,846 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors and hedge funds.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Nike (NYSE:NKE)

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