Nike, Inc. (NYSE:NKE)‘s stock had its “buy” rating reaffirmed by stock analysts at Berenberg Bank in a report issued on Friday, June 30th. They presently have a $70.00 price target on the footwear maker’s stock. Berenberg Bank’s target price would suggest a potential upside of 19.31% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. UBS AG dropped their price objective on Nike from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, March 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Nike in a research note on Wednesday, March 22nd. B. Riley reiterated a “neutral” rating and issued a $56.00 price target on shares of Nike in a research note on Wednesday, March 22nd. Argus cut Nike from a “buy” rating to a “hold” rating and increased their price target for the company from $55.25 to $55.56 in a research note on Tuesday, April 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $56.00 price target on shares of Nike in a research note on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $61.04.
Nike (NYSE NKE) traded up 0.89% during midday trading on Friday, reaching $58.67. 5,112,825 shares of the company’s stock were exchanged. Nike has a 12 month low of $49.01 and a 12 month high of $60.33. The firm has a 50 day moving average of $56.05 and a 200-day moving average of $55.16. The stock has a market cap of $96.41 billion, a PE ratio of 23.37 and a beta of 0.60.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Nike will post $2.42 earnings per share for the current year.
In related news, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total value of $11,526,000.00. Following the transaction, the insider now directly owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Campion sold 96,243 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the transaction, the chief financial officer now directly owns 50,246 shares in the company, valued at $2,847,943.28. The disclosure for this sale can be found here. Insiders have sold 380,037 shares of company stock worth $21,901,923 in the last 90 days. Insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. V Wealth Management LLC purchased a new position in shares of Nike during the second quarter valued at $100,000. Crestwood Advisors Group LLC purchased a new position in shares of Nike during the first quarter valued at $117,000. Webster Bank N. A. raised its position in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares during the period. Gierl Augustine Investment Management Inc raised its position in Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock valued at $118,000 after buying an additional 107 shares during the period. Finally, Asset Planning Services Ltd. bought a new position in Nike during the first quarter valued at approximately $118,000. 64.17% of the stock is currently owned by institutional investors and hedge funds.
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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