Nike (NYSE:NKE) received a $42.00 target price from investment analysts at Bank of America in a research report issued on Friday. The firm presently has a “sell” rating on the footwear maker’s stock. Bank of America’s target price points to a potential downside of 35.16% from the stock’s current price.
NKE has been the topic of several other reports. Morgan Stanley reissued a “buy” rating and issued a $64.00 price objective (down from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price objective on the stock in a research report on Wednesday, September 6th. Telsey Advisory Group dropped their price objective on shares of Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Argus raised shares of Nike from a “hold” rating to a “buy” rating and increased their price objective for the company from $50.35 to $64.46 in a research report on Thursday, December 14th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $55.00 price objective (down from $56.00) on shares of Nike in a research report on Tuesday, September 19th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $63.62.
Shares of Nike (NYSE NKE) traded up $1.18 during mid-day trading on Friday, reaching $64.77. 14,352,300 shares of the company’s stock were exchanged, compared to its average volume of 9,642,600. The firm has a market capitalization of $103,748.16, a PE ratio of 27.06, a P/E/G ratio of 2.99 and a beta of 0.64. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29. Nike has a 12-month low of $50.35 and a 12-month high of $65.18.
In other news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were 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 approximately $90,124,612.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the business’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 owns 23,248 shares in the company, valued at approximately $1,511,120. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,094 shares of company stock worth $17,480,160. 3.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Nike by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock worth $5,876,718,000 after purchasing an additional 2,452,993 shares during the period. Wellington Management Group LLP lifted its position in shares of Nike by 5.0% in 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 purchasing an additional 2,375,447 shares during the period. Capital Research Global Investors increased its stake in shares of Nike by 10.4% in the 2nd quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock valued at $1,423,988,000 after acquiring an additional 2,274,869 shares in the last quarter. Capital World Investors increased its stake in shares of Nike by 58.7% in the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after acquiring an additional 8,058,601 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Nike by 6.7% in the 2nd quarter. Northern Trust Corp now owns 21,502,892 shares of the footwear maker’s stock valued at $1,268,671,000 after acquiring an additional 1,344,638 shares in the last quarter. Hedge funds and other institutional investors own 62.56% of the company’s stock.
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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.
