Nike (NYSE:NKE) has been assigned a $60.00 target price by equities research analysts at Pivotal Research in a report issued on Friday. The brokerage presently has a “hold” rating on the footwear maker’s stock. Pivotal Research’s target price suggests a potential downside of 7.39% from the company’s current price.
NKE has been the topic of several other reports. Morgan Stanley reissued a “buy” rating and issued a $64.00 target price (down from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 target price on the stock in a research note on Wednesday, September 6th. Telsey Advisory Group cut their target price on Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 30th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $55.00 price objective (down from $56.00) on shares of Nike in a research report on Tuesday, September 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Nike in a research report on Thursday, August 24th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $60.67.
Nike (NYSE NKE) traded up $0.26 during midday trading on Friday, hitting $64.79. The company had a trading volume of 15,158,735 shares, compared to its average volume of 9,605,064. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $104,906.55, a PE ratio of 27.36, a PEG ratio of 3.01 and a beta of 0.64. Nike has a 12 month low of $50.35 and a 12 month high of $65.07.
In related news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of NKE. Fiduciary Trust Co. boosted its holdings in shares of Nike by 4.9% during the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after purchasing an additional 10,840 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its holdings in shares of Nike by 651.4% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after purchasing an additional 23,450 shares during the last quarter. Royal Bank of Scotland Group PLC boosted its holdings in shares of Nike by 6.2% during the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after purchasing an additional 12,201 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of Nike by 4.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after purchasing an additional 4,030 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in shares of Nike by 20.0% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after purchasing an additional 17,285 shares during the last quarter. 62.78% of the stock is owned by institutional investors.
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.
