Nomura set a $62.00 price objective on Nike, Inc. (NYSE:NKE) in a report published on Monday, July 17th. The brokerage currently has a buy rating on the footwear maker’s stock.
Other equities research analysts have also recently issued research reports about the stock. Citigroup Inc. upped their price objective on shares of Nike to $66.00 in a report on Thursday, March 23rd. Argus set a $55.00 price target on shares of Nike in a report on Wednesday, April 5th. Stifel Nicolaus cut their price target on shares of Nike from $68.00 to $66.00 and set a buy rating on the stock in a report on Wednesday, March 22nd. Goldman Sachs Group, Inc. (The) increased their price target on shares of Nike from $61.00 to $62.00 and gave the company a buy rating in a report on Wednesday, March 22nd. Finally, MKM Partners reiterated a buy rating on shares of Nike in a report on Wednesday, March 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the company. Nike has an average rating of Buy and an average target price of $61.04.
Nike (NYSE:NKE) opened at 59.79 on Monday. The company has a 50-day moving average of $56.38 and a 200 day moving average of $55.29. Nike has a 12 month low of $49.01 and a 12 month high of $60.33. The company has a market cap of $98.25 billion, a PE ratio of 23.82 and a beta of 0.59.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, equities analysts forecast that Nike will post $2.42 earnings per share for the current fiscal year.
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In related news, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the sale, the chief financial officer now owns 50,246 shares in the company, valued at approximately $2,847,943.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric D. Sprunk sold 112,323 shares of Nike stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the sale, the insider now owns 139,551 shares of the company’s stock, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. Insiders sold a total of 492,360 shares of company stock valued at $28,485,174 in the last 90 days. Company insiders own 3.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Nike by 6.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 874,656 shares of the footwear maker’s stock worth $51,649,000 after buying an additional 49,590 shares during the last quarter. Great Lakes Advisors LLC raised its stake in shares of Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock worth $5,732,000 after buying an additional 4,030 shares during the last quarter. Usca Ria LLC raised its stake in shares of Nike by 22.2% in the second quarter. Usca Ria LLC now owns 7,353 shares of the footwear maker’s stock worth $434,000 after buying an additional 1,336 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Nike by 0.6% in the second quarter. Parallel Advisors LLC now owns 12,831 shares of the footwear maker’s stock worth $758,000 after buying an additional 76 shares during the last quarter. Finally, AR Asset Management Inc. raised its stake in shares of Nike by 51.1% in the second quarter. AR Asset Management Inc. now owns 68,000 shares of the footwear maker’s stock worth $4,012,000 after buying an additional 23,000 shares during the last quarter. Institutional investors own 64.77% of the company’s stock.
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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