Nike, Inc. (NYSE:NKE) was upgraded by Forward View from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.
NKE has been the subject of several other reports. Piper Jaffray Companies set a $50.00 price objective on shares of Nike and gave the stock a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Citigroup Inc. reiterated a “buy” rating and set a $65.00 price objective (down from $67.00) on shares of Nike in a research note on Wednesday, September 27th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $58.00 price objective (down from $63.00) on shares of Nike in a research note on Monday, August 21st. Finally, Vetr downgraded shares of Nike from a “buy” rating to a “hold” rating and set a $57.75 price objective for the company. in a research note on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $58.93.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. Nike’s revenue was up .1% compared to the same quarter last year.
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In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the sale, the director now directly owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Nike by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock valued at $5,876,718,000 after acquiring an additional 2,452,993 shares during the last quarter. State Street Corp lifted its stake in Nike by 1.4% during the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after buying an additional 835,003 shares in the last quarter. Wellington Management Group LLP lifted its stake in Nike by 5.0% during the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares in the last quarter. Capital Research Global Investors lifted its stake in Nike by 10.4% during the second quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock valued at $1,423,988,000 after buying an additional 2,274,869 shares in the last quarter. Finally, Capital World Investors lifted its stake in Nike by 58.7% during the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after buying an additional 8,058,601 shares in the last quarter. 62.46% of the stock is owned by institutional investors.
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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