Nike (NYSE:NKE) had its price objective increased by investment analysts at Buckingham Research from $64.00 to $71.00 in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the footwear maker’s stock. Buckingham Research’s price objective suggests a potential upside of 9.58% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $59.74 price objective on the stock in a research note on Monday, August 21st. Robert W. Baird reissued a “buy” rating and set a $65.00 target price on shares of Nike in a report on Sunday, September 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Thursday, August 24th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.00 price objective (down from $63.00) on shares of Nike in a research note on Monday, August 21st. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $64.00 price objective (down from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.04.
Nike (NYSE NKE) traded up $0.26 during trading hours on Monday, reaching $64.79. The company’s stock had a trading volume of 15,659,200 shares, compared to its average volume of 9,605,064. Nike has a 52-week low of $50.35 and a 52-week high of $65.07. The firm has a market cap of $105,689.83, a P/E ratio of 27.57, a P/E/G ratio of 3.03 and a beta of 0.64. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29.
In related news, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction that occurred 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 transaction, the executive vice president now owns 23,248 shares of the company’s stock, valued at $1,441,376. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction that occurred 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 transaction, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Asset Planning Services Ltd. boosted its position in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the last quarter. Stearns Financial Services Group raised its position in shares of Nike by 0.4% in the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after acquiring an additional 17 shares in the last quarter. Smith Shellnut Wilson LLC ADV raised its position in shares of Nike by 0.3% in the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after acquiring an additional 41 shares in the last quarter. Buckingham Asset Management LLC raised its position in shares of Nike by 0.7% in the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock worth $401,000 after acquiring an additional 45 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its position in shares of Nike by 0.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 9,139 shares of the footwear maker’s stock worth $539,000 after acquiring an additional 48 shares in the last quarter. 62.78% of the stock is currently 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.
