Nike (NYSE:NKE) has been given a $60.00 price objective by analysts at JPMorgan Chase & Co. in a report issued on Wednesday. The brokerage currently has a “neutral” rating on the footwear maker’s stock. JPMorgan Chase & Co.’s price objective indicates a potential downside of 4.08% from the stock’s previous close.
Several other equities research analysts also recently commented on the company. Buckingham Research set a $71.00 price objective on Nike and gave the company a “buy” rating in a report on Monday. DA Davidson increased their price objective on Nike from $68.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday. Credit Suisse Group reissued a “hold” rating and issued a $60.00 price objective on shares of Nike in a report on Friday, December 22nd. Canaccord Genuity cut their price objective on Nike from $64.00 to $62.00 and set a “hold” rating for the company in a report on Monday. Finally, Susquehanna Bancshares reissued a “hold” rating and issued a $57.00 price objective on shares of Nike in a report on Friday, December 22nd. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $63.75.
Shares of Nike (NYSE NKE) traded down $0.40 on Wednesday, hitting $62.55. 5,210,453 shares of the stock traded hands, compared to its average volume of 9,622,537. The company has a market cap of $102,703.99, a PE ratio of 27.08, a P/E/G ratio of 2.97 and a beta of 0.64. Nike has a one year low of $50.35 and a one year high of $65.18. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated 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 transaction, the chairman now owns 1,637,736 shares in the company, valued at $90,124,612.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the transaction, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Insiders sold 516,134 shares of company stock worth $31,743,284 in the last 90 days. 3.90% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its stake in shares of Nike by 4,252.6% during the second 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 in the last quarter. Capital World Investors boosted its stake in shares of Nike by 58.7% during the second 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 in the last quarter. Harding Loevner LP boosted its stake in shares of Nike by 97.1% during the third 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 in the last quarter. Orbis Allan Gray Ltd acquired a new stake in shares of Nike during the second quarter valued at about $226,588,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Nike by 25.5% during the second 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 in the last quarter. Hedge funds and other institutional investors own 62.67% of the company’s stock.
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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.
