Nike (NYSE:NKE)‘s stock had its “neutral” rating restated by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday. They currently have a $58.00 price objective on the footwear maker’s stock. JPMorgan Chase & Co.’s price target suggests a potential downside of 10.26% from the company’s current price.
Other equities analysts also recently issued reports about the stock. Deutsche Bank set a $76.00 target price on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, December 14th. Argus raised shares of Nike from a “hold” rating to a “buy” rating and increased their target price for the stock from $50.35 to $64.46 in a research report on Thursday, December 14th. DA Davidson set a $68.00 target price on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, December 14th. Stifel Nicolaus set a $74.00 target price on shares of Nike and gave the stock a “buy” rating in a research report on Friday, December 15th. Finally, Guggenheim reissued a “buy” rating and set a $70.00 target price on shares of Nike in a research report on Friday, December 15th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $68.07.
Nike (NYSE:NKE) traded up $0.21 during trading on Friday, reaching $64.63. 17,342,645 shares of the company’s stock traded hands, compared to its average volume of 7,119,039. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. The firm has a market capitalization of $104,807.41, a P/E ratio of 60.97, a price-to-earnings-growth ratio of 2.92 and a beta of 0.68. Nike has a 52-week low of $50.35 and a 52-week high of $70.25.
In related news, COO Eric D. Sprunk sold 226,040 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the transaction, the chief operating officer now owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The disclosure for this sale can be found here. Insiders sold 912,802 shares of company stock valued at $58,993,107 in the last three months. Company insiders own 3.90% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Amalgamated Bank increased its holdings in shares of Nike by 2.0% during the third quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock worth $8,261,000 after buying an additional 3,189 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Nike by 3.9% during the third quarter. Stifel Financial Corp now owns 1,319,016 shares of the footwear maker’s stock worth $68,428,000 after buying an additional 49,251 shares in the last quarter. Sun Life Financial INC increased its holdings in shares of Nike by 23,747.5% during the second quarter. Sun Life Financial INC now owns 9,539 shares of the footwear maker’s stock worth $563,000 after buying an additional 9,499 shares in the last quarter. Sather Financial Group Inc acquired a new stake in shares of Nike during the second quarter worth approximately $9,275,000. Finally, Capital Bank & Trust Co increased its holdings in shares of Nike by 63.7% during the third quarter. Capital Bank & Trust Co now owns 653,742 shares of the footwear maker’s stock worth $33,897,000 after buying an additional 254,372 shares in the last quarter. 65.65% of the stock is owned by hedge funds and other institutional investors.
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Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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