Nike, Inc. (NKE) Downgraded to “Neutral” at Goldman Sachs Group, Inc. (The)
Nike, Inc. (NYSE:NKE) was downgraded by Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $54.00 target price on the footwear maker’s stock, up from their prior target price of $52.30. Goldman Sachs Group, Inc. (The)’s target price indicates a potential upside of 1.77% from the company’s current price.
Several other research firms have also commented on NKE. Stifel Nicolaus set a $66.00 target price on Nike and gave the stock a “buy” rating in a report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 target price on Nike and gave the stock a “hold” rating in a report on Saturday, July 22nd. Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of Nike in a research report on Monday, July 24th. Cowen and Company set a $54.00 price target on Nike and gave the stock a “hold” rating in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $58.00 price target on shares of Nike in a research report on Friday, June 30th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $59.04.
Nike (NKE) traded up 0.70% on Thursday, hitting $53.06. The stock had a trading volume of 13,020,916 shares. The company’s 50 day moving average is $52.56 and its 200-day moving average is $54.69. The stock has a market cap of $86.57 billion, a P/E ratio of 22.59 and a beta of 0.61. Nike has a 12 month low of $49.01 and a 12 month high of $60.53.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. Nike’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. Analysts forecast that Nike will post $2.32 EPS for the current year.
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In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now directly owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Campion sold 5,722 shares of Nike stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the sale, the chief financial officer now directly owns 34,976 shares of the company’s stock, valued at $2,077,574.40. The disclosure for this sale can be found here. Insiders have sold a total of 134,045 shares of company stock valued at $7,778,338 over the last three months. 3.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Honkamp Krueger Financial Services Inc. lifted its holdings in Nike by 10.6% during the 3rd quarter. Honkamp Krueger Financial Services Inc. now owns 10,782 shares of the footwear maker’s stock worth $559,000 after buying an additional 1,035 shares during the last quarter. Kistler Tiffany Companies LLC lifted its holdings in Nike by 90.5% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 4,814 shares of the footwear maker’s stock worth $250,000 after buying an additional 2,287 shares during the last quarter. Merriman Wealth Management LLC purchased a new stake in Nike during the 3rd quarter worth about $905,000. Oakbrook Investments LLC lifted its holdings in Nike by 16.3% during the 3rd quarter. Oakbrook Investments LLC now owns 581,176 shares of the footwear maker’s stock worth $30,134,000 after buying an additional 81,587 shares during the last quarter. Finally, Bristlecone Advisors LLC lifted its holdings in Nike by 5.9% during the 3rd quarter. Bristlecone Advisors LLC now owns 25,221 shares of the footwear maker’s stock worth $1,308,000 after buying an additional 1,415 shares during the last quarter. 62.55% of the stock is owned by institutional investors.
Nike Company Profile
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.
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