Nike (NYSE:NKE) has been given a $59.00 target price by investment analysts at Jefferies Group in a research report issued to clients and investors on Friday. The brokerage currently has a “neutral” rating on the footwear maker’s stock. Jefferies Group’s price target indicates a potential downside of 8.91% from the stock’s previous close.
A number of other equities research analysts have also issued reports on NKE. Stifel Nicolaus reissued a “buy” rating and set a $66.00 price target on shares of Nike in a research note on Thursday, August 24th. Needham & Company LLC reissued a “hold” rating on shares of Nike in a research note on Thursday, August 24th. Vetr lowered Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price target for the company. in a research note on Monday, August 28th. Morgan Stanley reissued a “buy” rating and set a $64.00 price target (down from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Finally, Telsey Advisory Group decreased their price target on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $63.62.
Shares of Nike (NYSE NKE) traded up $1.18 during mid-day trading on Friday, hitting $64.77. The company had a trading volume of 14,352,300 shares, compared to its average volume of 9,642,600. Nike has a 52-week low of $50.35 and a 52-week high of $65.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81. The company has a market cap of $103,748.16, a price-to-earnings ratio of 27.06, a P/E/G ratio of 2.99 and a beta of 0.64.
In related news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 23,248 shares in the company, valued at $1,511,120. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,094 shares of company stock worth $17,480,160. 3.90% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in NKE. Asset Planning Services Ltd. grew its stake in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 7 shares during the last quarter. Stearns Financial Services Group grew its stake in Nike by 0.4% during the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after purchasing an additional 17 shares during the last quarter. Smith Shellnut Wilson LLC ADV grew its stake in Nike by 0.3% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after purchasing an additional 41 shares during the last quarter. Buckingham Asset Management LLC grew its stake in Nike by 0.7% during the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after purchasing an additional 45 shares during the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC grew its stake in Nike by 1.0% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock valued at $357,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 62.56% of the company’s stock.
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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.
