Nike (NYSE:NKE) received a $60.00 price target from analysts at Credit Suisse Group in a research report issued on Thursday. The brokerage currently has a “hold” rating on the footwear maker’s stock. Credit Suisse Group’s price objective would suggest a potential downside of 4.69% from the stock’s current price.
A number of other equities research analysts have also weighed in on the stock. Vetr lowered shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price objective for the company. in a report on Monday, September 4th. Goldman Sachs Group lowered shares of Nike from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $52.30 to $54.00 in a report on Thursday, October 19th. Telsey Advisory Group cut their target price on shares of Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Robert W. Baird reissued a “buy” rating on shares of Nike in a research report on Friday, October 13th. Finally, Deutsche Bank reissued a “buy” rating and set a $61.00 target price (down previously from $69.00) on shares of Nike in a research report on Wednesday, September 13th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Nike currently has a consensus rating of “Hold” and a consensus price target of $63.75.
Shares of Nike (NYSE NKE) opened at $62.95 on Thursday. Nike has a twelve month low of $50.35 and a twelve month high of $65.18. The firm has a market cap of $102,703.99, a PE ratio of 27.25, a P/E/G ratio of 2.97 and a beta of 0.64. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now directly owns 23,248 shares in the company, valued at approximately $1,511,120. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,094 shares of company stock worth $17,480,160. Insiders own 3.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in NKE. Janus Henderson Group PLC grew its position in 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 worth $980,539,000 after purchasing an additional 16,237,557 shares during the last quarter. Capital World Investors lifted its stake in 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 acquiring an additional 8,058,601 shares during the period. Harding Loevner LP lifted its stake in 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 acquiring an additional 5,987,728 shares during the period. Orbis Allan Gray Ltd acquired a new stake in Nike during the 2nd quarter valued at approximately $226,588,000. Finally, Alliancebernstein L.P. lifted its stake in 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 acquiring an additional 3,033,280 shares during the period. 62.67% of the stock is currently owned by institutional investors.
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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.
