Telsey Advisory Group Reaffirms Market Perform Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE)‘s stock had its “market perform” rating reaffirmed by equities researchers at Telsey Advisory Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $80.00 price target on the footwear maker’s stock. Telsey Advisory Group’s target price would indicate a potential upside of 11.54% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $115.00 in a report on Monday, February 24th. TD Cowen lowered their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Evercore ISI lowered their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $89.54.

NIKE Price Performance

Shares of NIKE stock opened at $71.72 on Monday. The stock has a market capitalization of $106.08 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 2.52 and a beta of 1.02. The firm’s 50-day moving average price is $74.68 and its two-hundred day moving average price is $77.77. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE has a 1-year low of $68.62 and a 1-year high of $101.92.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the firm posted $1.03 EPS. The business’s revenue was down 7.7% on a year-over-year basis. On average, equities analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

Institutional Trading of NIKE

A number of hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in NIKE in the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP lifted its holdings in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. boosted its stake in NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the period. Loomis Sayles & Co. L P grew its holdings in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.