Nike (NYSE:NKE) has been assigned a $60.00 price target by stock analysts at J P Morgan Chase & Co in a report released on Thursday. The firm currently has a “neutral” rating on the footwear maker’s stock. J P Morgan Chase & Co’s price target suggests a potential downside of 6.54% from the company’s current price.
A number of other equities research analysts also recently commented on the company. Deutsche Bank reaffirmed a “buy” rating and set a $61.00 target price (down previously from $69.00) on shares of Nike in a report on Wednesday, September 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 target price on shares of Nike in a report on Thursday, August 24th. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $58.87 target price for the company. in a report on Tuesday, September 12th. Robert W. Baird reaffirmed a “buy” rating and set a $65.00 target price on shares of Nike in a report on Sunday, September 10th. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $64.00 target price (down previously from $68.00) on shares of Nike in a report on Tuesday, August 29th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-one have assigned a buy rating to the stock. Nike presently has an average rating of “Hold” and a consensus target price of $62.35.
Shares of Nike (NYSE:NKE) traded up $0.61 during mid-day trading on Thursday, hitting $64.20. The stock had a trading volume of 6,773,718 shares, compared to its average volume of 9,623,500. Nike has a 1-year low of $50.35 and a 1-year high of $65.18. The stock has a market capitalization of $104,808.65, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 3.02 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81.
In other news, EVP Monique S. Matheson sold 10,000 shares of the company’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 completion of the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,511,120. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 290,094 shares of company stock valued at $17,480,160. Corporate insiders own 3.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Saturna Capital grew its holdings in Nike by 1.4% in the 3rd quarter. Saturna Capital now owns 394,670 shares of the footwear maker’s stock valued at $48,533,000 after buying an additional 5,609 shares in the last quarter. Perigon Wealth Management grew its holdings in Nike by 1.0% in the 3rd quarter. Perigon Wealth Management now owns 7,258 shares of the footwear maker’s stock valued at $893,000 after buying an additional 73 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft purchased a new stake in Nike in the 3rd quarter valued at $26,543,000. Gerstein Fisher grew its holdings in Nike by 9.7% in the 3rd quarter. Gerstein Fisher now owns 7,758 shares of the footwear maker’s stock valued at $954,000 after buying an additional 686 shares in the last quarter. Finally, Stillwater Investment Management grew its holdings in Nike by 1.0% in the 4th quarter. Stillwater Investment Management now owns 33,635 shares of the footwear maker’s stock valued at $2,102,000 after buying an additional 323 shares in the last quarter. 62.56% of the stock is owned by institutional investors and hedge funds.
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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.
