Macquarie restated their buy rating on shares of Nike (NYSE:NKE) in a research note published on Monday. They currently have a $98.00 target price on the footwear maker’s stock.
A number of other analysts also recently commented on NKE. Goldman Sachs Group reissued a neutral rating and set a $81.00 price objective on shares of Nike in a report on Monday, July 2nd. Pivotal Research set a $78.00 price objective on shares of Nike and gave the stock a hold rating in a report on Monday, July 2nd. Telsey Advisory Group boosted their price objective on shares of Nike from $82.00 to $87.00 and gave the stock an outperform rating in a report on Wednesday, July 4th. Morgan Stanley started coverage on shares of Nike in a report on Wednesday, August 1st. They set an overweight rating and a $88.00 price objective on the stock. Finally, Wells Fargo & Co set a $82.00 price objective on shares of Nike and gave the stock a neutral rating in a report on Monday, August 6th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $85.63.
NKE stock traded down $0.70 during trading on Monday, reaching $76.09. 3,965,927 shares of the company were exchanged, compared to its average volume of 8,713,506. The company has a market cap of $118.33 billion, a P/E ratio of 31.44, a P/E/G ratio of 2.33 and a beta of 0.65. Nike has a 52-week low of $54.59 and a 52-week high of $86.04. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.92 billion. Nike had a net margin of 5.57% and a return on equity of 40.69%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 earnings per share. On average, equities research analysts expect that Nike will post 2.62 earnings per share for the current year.
In related news, EVP Monique S. Matheson sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $85.00, for a total transaction of $1,445,000.00. Following the transaction, the executive vice president now owns 104,737 shares of the company’s stock, valued at $8,902,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the transaction, the director now directly owns 26,963 shares in the company, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $4,219,350 in the last three months. Insiders own 3.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in NKE. Jennison Associates LLC lifted its stake in shares of Nike by 26.5% during the second quarter. Jennison Associates LLC now owns 14,740,623 shares of the footwear maker’s stock valued at $1,174,533,000 after buying an additional 3,087,189 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Nike by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock valued at $2,226,327,000 after buying an additional 1,273,548 shares during the period. Millennium Management LLC lifted its stake in shares of Nike by 2,820.1% during the second quarter. Millennium Management LLC now owns 1,169,503 shares of the footwear maker’s stock valued at $93,186,000 after buying an additional 1,129,453 shares during the period. LFA Lugano Financial Advisors SA purchased a new position in shares of Nike during the second quarter valued at approximately $1,039,000. Finally, Bessemer Group Inc. lifted its stake in shares of Nike by 32.5% during the second quarter. Bessemer Group Inc. now owns 3,830,654 shares of the footwear maker’s stock valued at $305,227,000 after buying an additional 940,411 shares during the period. 64.49% of the stock is currently owned by institutional investors and hedge funds.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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