Nike (NYSE:NKE) had its price objective hoisted by Telsey Advisory Group from $61.00 to $68.00 in a report released on Monday. The brokerage currently has an “outperform” rating on the footwear maker’s stock. Telsey Advisory Group’s target price suggests a potential upside of 4.95% from the stock’s current price.
A number of other equities analysts have also weighed in on NKE. Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $59.74 target price on the stock in a research note on Monday, August 21st. Jefferies Group lowered Nike from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $60.00 in a research report on Monday, August 21st. Goldman Sachs Group reiterated a “buy” rating and set a $58.00 price objective (down from $63.00) on shares of Nike in a research report on Monday, August 21st. Stifel Nicolaus reiterated a “buy” rating and set a $66.00 price objective on shares of Nike in a research report on Thursday, August 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Nike in a research report on Thursday, August 24th. Four research 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. Nike has a consensus rating of “Hold” and a consensus price target of $60.85.
Nike (NYSE NKE) opened at $64.79 on Monday. The firm has a market capitalization of $105,689.83, a PE ratio of 27.57, a price-to-earnings-growth ratio of 3.03 and a beta of 0.64. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Nike has a one year low of $50.35 and a one year high of $65.07.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
Large investors have recently made changes to their positions in the company. Capstone Asset Management Co. increased its position in Nike by 8.3% during the 2nd quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock valued at $21,220,000 after buying an additional 29,538 shares in the last quarter. Boston Advisors increased its holdings in shares of Nike by 10.0% in the 4th quarter. Boston Advisors now owns 14,784 shares of the footwear maker’s stock worth $924,000 after purchasing an additional 1,340 shares in the last quarter. Morgan Stanley increased its holdings in shares of Nike by 10.1% in the 3rd quarter. Morgan Stanley now owns 22,764,806 shares of the footwear maker’s stock worth $1,198,567,000 after purchasing an additional 2,090,700 shares in the last quarter. J. W. Burns & Company increased its holdings in shares of Nike by 8.0% in the 4th quarter. J. W. Burns & Company now owns 66,996 shares of the footwear maker’s stock worth $4,187,000 after purchasing an additional 4,970 shares in the last quarter. Finally, CIBC World Markets Inc. increased its holdings in shares of Nike by 2.6% in the 3rd quarter. CIBC World Markets Inc. now owns 76,206 shares of the footwear maker’s stock worth $4,012,000 after purchasing an additional 1,898 shares in the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.
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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.
