Nike (NYSE:NKE) had its target price cut by Canaccord Genuity from $64.00 to $62.00 in a research note issued on Monday, StockTargetPrices.com reports. The firm presently has a “hold” rating on the footwear maker’s stock. Canaccord Genuity’s price target indicates a potential downside of 2.04% from the company’s current price.
Several other equities research analysts have also recently commented on NKE. Vetr cut 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. Jefferies Group cut Nike to a “buy” rating in a research note on Tuesday, August 29th. Morgan Stanley restated a “buy” rating and set a $64.00 price target (down previously from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Telsey Advisory Group cut 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. Finally, Robert W. Baird restated a “buy” rating and set a $65.00 price target on shares of Nike in a research note on Sunday, September 10th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $63.52.
Nike (NYSE NKE) opened at $63.29 on Monday. Nike has a 52-week low of $50.35 and a 52-week high of $65.18. The company has a market capitalization of $103,260.00, a PE ratio of 27.40, a PEG ratio of 3.04 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67.
In other news, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction dated 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 directly owns 23,248 shares of the company’s stock, valued at approximately $1,511,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated 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 directly owns 1,637,736 shares in the company, valued at $90,124,612.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 290,094 shares of company stock worth $17,480,160. 3.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Atlantic Trust Group LLC boosted its position in Nike by 17.0% during the 3rd quarter. Atlantic Trust Group LLC now owns 661,487 shares of the footwear maker’s stock valued at $34,298,000 after purchasing an additional 96,070 shares during the period. AustralianSuper Pty Ltd boosted its position in Nike by 16.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,955,000 shares of the footwear maker’s stock valued at $101,367,000 after purchasing an additional 278,600 shares during the period. Parametric Portfolio Associates LLC boosted its position in Nike by 1.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 4,352,267 shares of the footwear maker’s stock valued at $225,665,000 after purchasing an additional 64,059 shares during the period. Shelton Capital Management boosted its position in Nike by 3.3% during the 3rd quarter. Shelton Capital Management now owns 31,977 shares of the footwear maker’s stock valued at $1,658,000 after purchasing an additional 1,009 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its position in Nike by 51.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,220 shares of the footwear maker’s stock valued at $478,000 after purchasing an additional 3,134 shares during the period. 62.56% of the stock is currently owned by institutional investors and hedge funds.
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.
