Nike (NYSE:NKE) has been assigned a $62.00 target price by analysts at Goldman Sachs Group in a research note issued to investors on Friday. The firm currently has a “neutral” rating on the footwear maker’s stock. Goldman Sachs Group’s price target would suggest a potential downside of 2.04% from the company’s previous close.
Several other analysts also recently commented on NKE. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price on shares of Nike in a report on Thursday, August 24th. Needham & Company LLC restated a “hold” rating on shares of Nike in a report on Thursday, August 24th. Vetr downgraded shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 target price on the stock. in a report on Monday, August 28th. Jefferies Group downgraded shares of Nike to a “buy” rating in a report on Tuesday, August 29th. Finally, Morgan Stanley restated a “buy” rating and set a $64.00 target price (down from $68.00) on shares of Nike in a report on Tuesday, August 29th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-two have issued a buy rating to the stock. Nike currently has a consensus rating of “Hold” and a consensus target price of $63.57.
Nike (NYSE:NKE) traded down $1.48 during trading on Friday, reaching $63.29. 20,409,359 shares of the company’s stock were exchanged, compared to its average volume of 9,686,204. 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 52 week low of $50.35 and a 52 week high of $65.18. The firm has a market cap of $103,748.16, a P/E ratio of 26.93, a PEG ratio of 2.99 and a beta of 0.64.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the transaction, the executive vice president now owns 23,248 shares in the company, valued at $1,441,376. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders have sold a total of 290,094 shares of company stock valued at $17,480,160 in the last ninety days. Insiders own 3.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Asset Planning Services Ltd. lifted its stake in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares during the period. Stearns Financial Services Group lifted its stake in Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after buying an additional 17 shares during the period. Smith Shellnut Wilson LLC ADV lifted its stake in Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after buying an additional 41 shares during the period. Buckingham Asset Management LLC lifted its stake in Nike by 0.7% in the second quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after buying an additional 45 shares during the period. Finally, Sullivan Bruyette Speros & Blaney LLC lifted its stake in Nike by 1.0% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock valued at $357,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 62.56% of the company’s stock.
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About Nike
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.
