Nike (NKE) PT Set at $59.00 by Jefferies Group

Nike (NYSE:NKE) received a $59.00 price target from Jefferies Group in a note issued to investors on Friday. The brokerage currently has a “neutral” rating on the footwear maker’s stock. Jefferies Group’s price target would suggest a potential downside of 6.78% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Vetr cut Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price target on the stock. in a report on Monday, September 4th. Goldman Sachs Group cut shares of Nike from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $52.30 to $54.00 in a research report on Thursday, October 19th. Telsey Advisory Group lowered their price objective on shares of Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Stifel Nicolaus reiterated a “buy” rating and set a $66.00 price objective on shares of Nike in a research report on Thursday, August 24th. Finally, Morgan Stanley reiterated a “buy” rating and set a $64.00 price objective (down from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-two have given a buy rating to the stock. Nike currently has a consensus rating of “Hold” and a consensus price target of $63.57.

Nike (NYSE NKE) opened at $63.29 on Friday. The stock has a market capitalization of $105,673.35, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 3.04 and a beta of 0.64. Nike has a twelve month low of $50.35 and a twelve month high of $65.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81.

Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The company had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a return on equity of 31.24% and a net margin of 11.13%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. equities research analysts forecast that Nike will post 2.28 EPS for the current fiscal year.

In related news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $65.00, for a total value of $8,775,000.00. Following the completion of the sale, the chairman now directly owns 1,502,830 shares in the company, valued at $97,683,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at $1,441,376. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,094 shares of company stock worth $17,480,160. 3.90% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Fiduciary Trust Co. boosted its holdings in Nike by 4.9% in the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock worth $13,597,000 after purchasing an additional 10,840 shares in the last quarter. Sterling Investment Advisors Ltd. lifted its position in Nike by 651.4% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock worth $1,596,000 after acquiring an additional 23,450 shares during the last quarter. Royal Bank of Scotland Group PLC lifted its position in Nike by 6.2% during the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after acquiring an additional 12,201 shares during the last quarter. Great Lakes Advisors LLC lifted its position in Nike by 4.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock worth $5,732,000 after acquiring an additional 4,030 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in Nike by 20.0% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock worth $6,118,000 after acquiring an additional 17,285 shares during the last quarter. Hedge funds and other institutional investors own 62.56% of the company’s stock.

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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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