Nike (NYSE:NKE)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research report issued on Monday. They currently have a $74.00 target price on the footwear maker’s stock. Wedbush’s price target indicates a potential upside of 11.61% from the stock’s previous close.
Several other research analysts also recently weighed in on NKE. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 target price on shares of Nike in a research note on Friday, December 22nd. Cowen set a $64.00 price objective on Nike and gave the company a “hold” rating in a research note on Thursday, January 11th. Macquarie set a $72.00 price objective on Nike and gave the company a “buy” rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. set a $58.00 price objective on Nike and gave the company a “neutral” rating in a research note on Monday, March 5th. Finally, Barclays set a $71.00 price objective on Nike and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-three have assigned a buy rating to the company. Nike has an average rating of “Hold” and an average target price of $65.61.
Nike (NYSE NKE) opened at $66.30 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The firm has a market capitalization of $107,866.05, a P/E ratio of 28.70, a PEG ratio of 3.00 and a beta of 0.68. Nike has a 52 week low of $50.35 and a 52 week high of $70.25.
In related news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 23,248 shares of the company’s stock, valued at approximately $1,511,120. The transaction 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 dated Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total value of $9,450,000.00. Following the transaction, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $114,641,520. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,057,896 shares of company stock worth $68,424,217. 3.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of NKE. Vanguard Group Inc. raised its position in shares of Nike by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock worth $5,876,718,000 after acquiring an additional 2,452,993 shares in the last quarter. State Street Corp raised its position in shares of Nike by 1.4% during the 1st quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock worth $3,319,086,000 after acquiring an additional 835,003 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Nike by 5.0% during the 1st quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after acquiring an additional 2,375,447 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Nike by 0.6% during the 1st quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock worth $2,265,096,000 after acquiring an additional 204,944 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Nike by 92.6% during the 4th quarter. Jennison Associates LLC now owns 32,071,004 shares of the footwear maker’s stock worth $2,004,438,000 after buying an additional 15,421,544 shares during the last quarter. 65.76% of the stock is currently owned by institutional investors.
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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.
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