Nike (NKE) Shares Gap Up to $65.49
Nike Inc (NYSE:NKE) gapped up prior to trading on Friday . The stock had previously closed at $67.22, but opened at $65.49. Nike shares last traded at $65.49, with a volume of 13732945 shares changing hands.
A number of brokerages have recently issued reports on NKE. Oppenheimer raised shares of Nike to a “buy” rating in a report on Wednesday, January 31st. Citigroup reaffirmed a “buy” rating and issued a $78.00 target price (up from $74.00) on shares of Nike in a report on Wednesday, January 31st. UBS Group set a $76.00 target price on shares of Nike and gave the company a “buy” rating in a report on Thursday, February 1st. Canaccord Genuity increased their price target on shares of Nike from $50.00 to $64.00 and gave the company a “hold” rating in a report on Tuesday, December 19th. Finally, Zacks Investment Research raised shares of Nike from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $65.37.
The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The stock has a market cap of $106,548.23, a PE ratio of 28.35, a PEG ratio of 2.96 and a beta of 0.68.
In other Nike news, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 165,591 shares in the company, valued at $10,448,792.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. Insiders sold 932,896 shares of company stock worth $59,594,217 in the last 90 days. Company insiders own 3.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its stake 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 valued at $980,539,000 after acquiring an additional 16,237,557 shares during the last quarter. Capital World Investors raised its stake 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 valued at $1,284,985,000 after acquiring an additional 8,058,601 shares during the last quarter. Harding Loevner LP raised its stake in shares of Nike by 97.1% during the third quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after acquiring an additional 5,987,728 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in shares of Nike during the second quarter valued at $226,588,000. Finally, Alliancebernstein L.P. raised its stake 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 valued at $880,730,000 after acquiring an additional 3,033,280 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Nike (NKE) Shares Gap Up to $65.49” was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://theolympiareport.com/2018/02/11/nike-nke-shares-gap-up-to-65-49.html.
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.
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.