Nike (NYSE:NKE) had its price objective hoisted by equities researchers at Telsey Advisory Group from $92.00 to $95.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the footwear maker’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 8.34% from the stock’s current price.
A number of other brokerages have also recently commented on NKE. JPMorgan Chase & Co. raised their price target on shares of Nike to $87.06 and gave the stock a “neutral” rating in a research note on Friday, December 21st. Macquarie set a $98.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Tuesday, November 20th. Pivotal Research raised shares of Nike from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, December 21st. Bank of America set a $55.00 price objective on shares of Nike and gave the stock a “sell” rating in a report on Sunday, December 23rd. Finally, Cowen set a $80.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Friday, January 11th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $86.76.
Shares of NKE opened at $87.69 on Monday. The stock has a market cap of $136.61 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 2.68 and a beta of 0.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.14 and a quick ratio of 1.40. Nike has a 12 month low of $63.21 and a 12 month high of $88.59.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.06. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Nike had a net margin of 5.66% and a return on equity of 44.85%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Nike will post 2.63 earnings per share for the current fiscal year.
In related news, Chairman Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The shares were sold at an average price of $78.00, for a total value of $11,700,000.00. Following the completion of the sale, the chairman now owns 1,687,863 shares of the company’s stock, valued at $131,653,314. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John F. Slusher sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the completion of the transaction, the executive vice president now directly owns 284,805 shares in the company, valued at $21,089,810.25. The disclosure for this sale can be found here. In the last three months, insiders sold 800,000 shares of company stock valued at $61,862,000. 3.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Centric Wealth Management bought a new position in Nike in the fourth quarter valued at approximately $261,000. CMC Financial Group bought a new position in Nike in the fourth quarter valued at approximately $651,000. Van Leeuwen & Company LLC boosted its stake in Nike by 3.4% in the fourth quarter. Van Leeuwen & Company LLC now owns 4,655 shares of the footwear maker’s stock valued at $345,000 after acquiring an additional 155 shares during the last quarter. American Century Companies Inc. boosted its stake in Nike by 19.7% in the fourth quarter. American Century Companies Inc. now owns 6,357,307 shares of the footwear maker’s stock valued at $471,331,000 after acquiring an additional 1,047,428 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in Nike by 216.7% in the fourth quarter. Belpointe Asset Management LLC now owns 6,333 shares of the footwear maker’s stock valued at $470,000 after acquiring an additional 4,333 shares during the last quarter. 64.77% of the stock is currently owned by hedge funds and other institutional investors.
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.
Read More: Insider Trading – What You Need to Know
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.