Nike (NYSE:NKE) has been assigned a $64.00 price objective by stock analysts at Cowen in a report released on Thursday. The brokerage presently has a “hold” rating on the footwear maker’s stock. Cowen’s price objective would suggest a potential downside of 0.34% from the stock’s current price.
Several other research firms also recently commented on NKE. B. Riley reiterated a “neutral” rating on shares of Nike in a research report on Wednesday, November 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 target price on shares of Nike in a research report on Friday, December 22nd. Jefferies Group set a $59.00 target price on Nike and gave the company a “neutral” rating in a research report on Thursday, December 28th. JPMorgan Chase & Co. set a $58.00 target price on Nike and gave the company a “neutral” rating in a research report on Tuesday, January 2nd. Finally, Barclays set a $71.00 target price on Nike and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $64.39.
Shares of Nike (NKE) traded up $0.13 during mid-day trading on Thursday, hitting $64.22. The company had a trading volume of 5,010,600 shares, compared to its average volume of 7,957,457. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Nike has a twelve month low of $50.35 and a twelve month high of $65.18. The company has a market cap of $104,450.00, a P/E ratio of 27.80, a P/E/G ratio of 2.90 and a beta of 0.64.
In related news, EVP John F. Slusher sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total transaction of $6,309,000.00. Following the completion of the sale, the executive vice president now owns 268,169 shares of the company’s stock, valued at $16,918,782.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock valued at $60,257,267 in the last ninety days. 3.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. VNBTrust National Association acquired a new stake in Nike in the fourth quarter valued at approximately $232,000. Bristol John W & Co. Inc. NY grew its stake in Nike by 8.6% in the fourth quarter. Bristol John W & Co. Inc. NY now owns 1,314,749 shares of the footwear maker’s stock valued at $82,238,000 after acquiring an additional 103,696 shares during the period. Franklin Street Advisors Inc. NC grew its stake in Nike by 59.8% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 138,679 shares of the footwear maker’s stock valued at $8,674,000 after acquiring an additional 51,870 shares during the period. Gillespie Robinson & Grimm Inc. grew its stake in Nike by 6.2% in the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 444,740 shares of the footwear maker’s stock valued at $27,818,000 after acquiring an additional 26,033 shares during the period. Finally, Oak Point Wealth Management acquired a new stake in Nike in the fourth quarter valued at approximately $872,000. 62.67% of the stock is owned by institutional investors and hedge funds.
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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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