Nike (NYSE:NKE) has been given a $71.00 price target by analysts at Barclays in a note issued to investors on Thursday. The firm currently has a “buy” rating on the footwear maker’s stock. Barclays’ price objective would indicate a potential upside of 12.79% from the stock’s previous close.
A number of other research firms have also weighed in on NKE. Citigroup reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Nike in a research note on Tuesday, December 19th. Canaccord Genuity boosted their target price on Nike from $50.00 to $64.00 and gave the stock a “hold” rating in a research report on Tuesday, December 19th. Zacks Investment Research upgraded Nike from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research report on Tuesday, December 19th. Telsey Advisory Group boosted their target price on Nike from $61.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, December 18th. Finally, Buckingham Research boosted their target price on Nike from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.75.
Nike (NKE) traded down $0.70 during midday trading on Thursday, hitting $62.95. The stock had a trading volume of 8,959,700 shares, compared to its average volume of 9,662,843. The company has a market capitalization of $102,700.00, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 2.99 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. Nike has a 1 year low of $50.35 and a 1 year high of $65.18.
In related news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,511,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $65.00, for a total value of $8,775,000.00. Following the completion of the transaction, the chairman now directly owns 1,502,830 shares in the company, valued at approximately $97,683,950. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,094 shares of company stock worth $17,480,160. Insiders own 3.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its holdings in shares of Nike by 4,252.6% during the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after purchasing an additional 16,237,557 shares during the last quarter. Capital World Investors lifted its holdings in shares of Nike by 58.7% during the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after purchasing an additional 8,058,601 shares during the last quarter. Harding Loevner LP lifted its holdings in shares of Nike by 97.1% during the 3rd quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after purchasing an additional 5,987,728 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in shares of Nike during the 2nd quarter valued at $226,588,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of Nike by 25.5% during the 2nd quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock valued at $880,730,000 after purchasing an additional 3,033,280 shares during the last quarter. 62.67% of the stock is currently owned by 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.
