Credit Suisse Group Reiterates “Hold” Rating for Nike (NKE)

Nike (NYSE:NKE)‘s stock had its “hold” rating reissued by research analysts at Credit Suisse Group in a research report issued to clients and investors on Friday. They presently have a $60.00 price target on the footwear maker’s stock. Credit Suisse Group’s target price would indicate a potential downside of 5.20% from the stock’s previous close.

Several other research firms have also weighed in on NKE. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective on the stock in a research note on Wednesday, October 4th. Susquehanna Bancshares restated a “hold” rating and set a $57.00 price objective on shares of Nike in a research note on Wednesday, December 13th. Canaccord Genuity restated a “hold” rating and set a $50.00 price objective (down from $51.00) on shares of Nike in a research note on Wednesday, September 27th. Instinet restated a “buy” rating and set a $62.00 price objective (up from $59.00) on shares of Nike in a research note on Wednesday, September 27th. Finally, Zacks Investment Research upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Tuesday, December 19th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $63.44.

Shares of Nike (NYSE:NKE) traded down $1.48 during mid-day trading on Friday, reaching $63.29. 20,414,100 shares of the company’s stock traded hands, compared to its average volume of 9,686,334. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Nike has a 12-month low of $50.35 and a 12-month high of $65.18. The firm has a market cap of $103,260.00, a price-to-earnings ratio of 27.40, a P/E/G ratio of 3.04 and a beta of 0.64.

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

In related news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the transaction, the chairman now directly owns 1,502,830 shares in the company, valued at approximately $97,683,950. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 quarter, insiders have sold 290,094 shares of company stock valued at $17,480,160. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position 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 period. Wellington Management Group LLP increased its position in Nike by 5.0% in the 1st quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after acquiring an additional 2,375,447 shares during the period. Capital Research Global Investors increased its position in Nike by 10.4% in the 2nd quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock valued at $1,423,988,000 after acquiring an additional 2,274,869 shares during the period. Capital World Investors increased its position in Nike by 58.7% in the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after acquiring an additional 8,058,601 shares during the period. Finally, Northern Trust Corp increased its position in Nike by 6.7% in the 2nd quarter. Northern Trust Corp now owns 21,502,892 shares of the footwear maker’s stock valued at $1,268,671,000 after acquiring an additional 1,344,638 shares during the period. Institutional investors and hedge funds own 62.56% of the company’s stock.

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About Nike

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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