Nike (NYSE:NKE)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a report issued on Monday. They presently have a $74.00 target price on the footwear maker’s stock. Wedbush’s price target points to a potential upside of 11.61% from the company’s current price.
NKE has been the subject of several other research reports. JPMorgan Chase & Co. set a $58.00 target price on shares of Nike and gave the company a “neutral” rating in a report on Tuesday, January 2nd. Goldman Sachs Group set a $62.00 target price on shares of Nike and gave the company a “neutral” rating in a report on Thursday, December 28th. Buckingham Research started coverage on shares of Nike in a report on Sunday, December 31st. They issued a “buy” rating and a $72.00 target price for the company. Bank of America set a $42.00 target price on shares of Nike and gave the company a “sell” rating in a report on Friday, December 22nd. Finally, Canaccord Genuity set a $60.00 target price on shares of Nike and gave the company a “hold” rating in a report on Sunday, January 7th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $65.61.
Shares of Nike (NYSE:NKE) opened at $66.30 on Monday. Nike has a 1-year low of $50.35 and a 1-year high of $70.25. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The stock has a market cap of $107,866.05, a P/E ratio of 28.70, a PEG ratio of 3.00 and a beta of 0.68.
In related news, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the sale, the insider now directly owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the sale, the insider now directly owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,057,896 shares of company stock valued at $68,424,217. 3.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Seven Eight Capital LP acquired a new position in Nike in the second quarter valued at $7,174,000. Associated Banc Corp increased its stake in shares of Nike by 3.7% during the second quarter. Associated Banc Corp now owns 4,252 shares of the footwear maker’s stock worth $251,000 after acquiring an additional 150 shares during the period. Opes Advisors Inc acquired a new position in shares of Nike during the second quarter worth about $204,000. Norinchukin Bank The increased its stake in shares of Nike by 1.9% during the second quarter. Norinchukin Bank The now owns 941,052 shares of the footwear maker’s stock worth $55,522,000 after acquiring an additional 17,843 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Nike during the second quarter worth about $184,000. 65.76% of the stock is owned by hedge funds and other institutional investors.
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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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