NIKE (NYSE:NKE) Earns "Market Perform" Rating from Telsey Advisory Group

NIKE (NYSE:NKE - Get Free Report)'s stock had its "market perform" rating restated by analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They currently have a $80.00 price target on the footwear maker's stock. Telsey Advisory Group's price target suggests a potential upside of 4.58% from the company's current price.

Other research analysts also recently issued research reports about the company. BMO Capital Markets increased their price objective on NIKE from $92.00 to $95.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on NIKE from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Monday, December 2nd. Robert W. Baird decreased their target price on NIKE from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, December 23rd. DA Davidson raised NIKE to a "strong-buy" rating in a research report on Monday, December 23rd. Finally, UBS Group reissued a "neutral" rating and issued a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $88.62.

NIKE Stock Down 0.9 %

Shares of NKE traded down $0.73 during mid-day trading on Wednesday, reaching $76.50. The company's stock had a trading volume of 12,813,494 shares, compared to its average volume of 13,223,615. NIKE has a 12-month low of $68.62 and a 12-month high of $106.62. The stock has a market cap of $113.15 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company's 50 day moving average is $74.31 and its 200 day moving average is $78.09.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS 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 business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business's revenue for the quarter was down 7.7% on a year-over-year basis. Equities analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On NIKE

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of 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. Geode Capital Management LLC boosted its stake in shares of NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after purchasing an additional 347,178 shares during the last quarter. Capital World Investors boosted its stake in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 purchasing an additional 3,121,929 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

About NIKE

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.