Nike (NYSE:NKE) has been assigned a $62.00 price target by stock analysts at Pivotal Research in a research report issued to clients and investors on Thursday. The firm presently has a “hold” rating on the footwear maker’s stock. Pivotal Research’s price target points to a potential downside of 1.59% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $58.87 price objective for the company. in a research report on Tuesday, September 12th. Robert W. Baird reiterated a “buy” rating and set a $65.00 price objective on shares of Nike in a research report on Sunday, September 10th. Deutsche Bank reiterated a “buy” rating and set a $61.00 price objective (down previously from $69.00) on shares of Nike in a research report on Wednesday, September 13th. DA Davidson reiterated a “buy” rating and set a $69.00 price objective on shares of Nike in a research report on Thursday, September 14th. Finally, Morgan Stanley set a $64.00 price objective on Nike and gave the company a “buy” rating in a research report on Monday, September 18th. 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. Nike currently has a consensus rating of “Hold” and an average target price of $63.75.
Shares of Nike (NYSE:NKE) traded up $0.05 during midday trading on Thursday, reaching $63.00. The company’s stock had a trading volume of 1,962,181 shares, compared to its average volume of 9,640,140. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The company has a market cap of $102,703.99, a price-to-earnings ratio of 27.27, a P/E/G ratio of 2.97 and a beta of 0.64. Nike has a 52-week low of $50.35 and a 52-week high of $65.18.
In related news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 23,248 shares in the company, valued at $1,441,376. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction 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 sale, the chairman now owns 1,502,830 shares of the company’s stock, valued at $97,683,950. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,094 shares of company stock valued at $17,480,160. 3.90% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Israel Discount Bank of New York acquired a new position in Nike during the first quarter worth $764,000. WINTON GROUP Ltd increased its position in Nike by 2,434.9% during the first quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock worth $15,798,000 after buying an additional 288,216 shares during the last quarter. Good Life Advisors LLC increased its position in Nike by 36.6% during the first quarter. Good Life Advisors LLC now owns 6,992 shares of the footwear maker’s stock worth $384,000 after buying an additional 1,873 shares during the last quarter. Jacobson & Schmitt Advisors LLC increased its position in Nike by 2.0% during the first quarter. Jacobson & Schmitt Advisors LLC now owns 102,640 shares of the footwear maker’s stock worth $5,720,000 after buying an additional 1,981 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Nike by 5.5% during the first quarter. Legal & General Group Plc now owns 5,511,172 shares of the footwear maker’s stock worth $307,138,000 after buying an additional 285,325 shares during the last quarter. Institutional investors and hedge funds own 62.67% of the company’s stock.
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.
