Nike, Inc. (NYSE:NKE)‘s stock had its “buy” rating restated by investment analysts at Citigroup Inc. in a report issued on Monday. They currently have a $65.00 target price on the footwear maker’s stock. Citigroup Inc.’s price objective suggests a potential upside of 25.00% from the stock’s previous close.
A number of other research firms have also recently weighed in on NKE. Nomura reissued a “buy” rating and set a $60.00 price objective on shares of Nike in a report on Friday, June 30th. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective on the stock in a report on Wednesday, October 4th. Telsey Advisory Group cut their price objective on shares of Nike from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, June 22nd. Cowen and Company raised their price objective on shares of Nike from $53.00 to $54.00 and gave the stock a “market perform” rating in a report on Friday, June 30th. Finally, Jefferies Group LLC cut shares of Nike from a “buy” rating to a “hold” rating and cut their target price for the company from $75.00 to $60.00 in a report on Monday, August 21st. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $59.14.
Shares of Nike (NYSE NKE) opened at 52.00 on Monday. The stock has a market cap of $85.23 billion, a P/E ratio of 22.14 and a beta of 0.61. Nike has a 52-week low of $49.01 and a 52-week high of $60.53. The firm’s 50-day moving average is $52.64 and its 200 day moving average is $54.80.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter last year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts forecast that Nike will post $2.32 earnings per share for the current fiscal year.
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In other news, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Campion sold 5,722 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the sale, the chief financial officer now owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. Insiders have sold a total of 134,045 shares of company stock valued at $7,778,338 in the last quarter. Company insiders own 3.90% of the company’s stock.
Several large investors have recently modified their holdings of NKE. Janus Henderson Group PLC grew its holdings in shares of Nike by 4,252.6% during the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after purchasing an additional 16,237,557 shares during the period. Capital World Investors grew its holdings in shares of Nike by 58.7% during the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after purchasing an additional 8,058,601 shares during the period. OppenheimerFunds Inc. grew its holdings in shares of Nike by 7,020.1% during the 1st quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after purchasing an additional 5,274,656 shares during the period. Orbis Allan Gray Ltd purchased a new stake in shares of Nike during the 2nd quarter worth about $226,588,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Nike by 25.5% during the 2nd quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock worth $880,730,000 after purchasing an additional 3,033,280 shares during the period. Institutional investors and hedge funds own 62.55% of the company’s stock.
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.
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