Nike, Inc. (NYSE:NKE) has been assigned a $50.00 price target by Piper Jaffray Companies in a research report issued on Thursday. The firm presently has a “hold” rating on the footwear maker’s stock. Piper Jaffray Companies’ price target suggests a potential downside of 5.77% from the company’s current price.
Several other equities research analysts also recently weighed in on the stock. Jefferies Group LLC set a $48.00 target price on shares of Nike and gave the stock a “hold” rating in a research note on Friday. Goldman Sachs Group, Inc. (The) downgraded shares of Nike from a “buy” rating to a “neutral” rating and upped their target price for the stock from $52.30 to $54.00 in a research note on Thursday. Buckingham Research set a $64.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Tuesday. Citigroup Inc. reaffirmed a “buy” rating and set a $65.00 target price on shares of Nike in a research note on Monday. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Nike in a research note on Friday, October 13th. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Nike currently has a consensus rating of “Hold” and an average price target of $59.04.
Shares of Nike (NKE) traded up 0.70% during trading on Thursday, reaching $53.06. 13,005,757 shares of the company traded hands. Nike has a 52 week low of $49.01 and a 52 week high of $60.53. The company has a market capitalization of $86.57 billion, a price-to-earnings ratio of 22.59 and a beta of 0.61. The firm’s 50 day moving average price is $52.55 and its 200-day moving average price is $54.71.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the prior year, the firm earned $0.73 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts anticipate that Nike will post $2.32 EPS for the current fiscal year.
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In other news, CFO Andrew Campion sold 5,722 shares of Nike stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the completion of the sale, the chief financial officer now directly owns 34,976 shares in the company, valued at $2,077,574.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. Insiders have sold a total of 134,045 shares of company stock valued at $7,778,338 over the last 90 days. 3.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of NKE. Janus Henderson Group PLC grew its holdings in shares of Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after buying an additional 16,237,557 shares in the last quarter. Capital World Investors grew its holdings in shares of Nike by 58.7% during the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after buying an additional 8,058,601 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Nike by 7,020.1% during the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in shares of Nike during the second quarter worth about $226,588,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Nike by 25.5% during the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock worth $880,730,000 after buying an additional 3,033,280 shares in the last quarter. Institutional investors and hedge funds own 62.55% of the company’s stock.
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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