Nike (NYSE:NKE) had its target price hoisted by research analysts at B. Riley from $53.00 to $61.00 in a research report issued to clients and investors on Friday. The firm presently has a “neutral” rating on the footwear maker’s stock. B. Riley’s price objective would indicate a potential downside of 5.82% from the company’s current price.
Several other equities analysts also recently weighed in on NKE. Stifel Nicolaus reissued a “buy” rating and set a $66.00 price target on shares of Nike in a research report on Thursday, August 24th. Needham & Company LLC reissued a “hold” rating on shares of Nike in a research report on Thursday, August 24th. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price target for the company. in a research report on Monday, August 28th. Jefferies Group downgraded Nike to a “buy” rating in a research report on Tuesday, August 29th. Finally, Morgan Stanley reissued a “buy” rating and set a $64.00 price target (down previously from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $62.88.
Nike (NYSE NKE) opened at $64.77 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $103,748.16, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 2.99 and a beta of 0.64. Nike has a 1 year low of $50.35 and a 1 year high of $65.18.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. Following the transaction, the executive vice president now 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 90 days, insiders have sold 290,094 shares of company stock worth $17,480,160. 3.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Nike by 2.5% in the second quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock valued at $5,876,718,000 after buying an additional 2,452,993 shares during the last quarter. State Street Corp increased its holdings in Nike by 1.4% in the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after buying an additional 835,003 shares during the last quarter. Wellington Management Group LLP increased its holdings in Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its holdings in Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock valued at $2,265,096,000 after buying an additional 204,944 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Nike by 92.6% in the fourth quarter. Jennison Associates LLC now owns 32,071,004 shares of the footwear maker’s stock valued at $2,004,438,000 after buying an additional 15,421,544 shares during the last quarter. 62.56% of the stock is currently 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.
