The stock of Nike Inc (NYSE:NKE) is a huge mover today! About 3.65M shares traded hands. Nike Inc (NYSE:NKE) has declined 13.41% since March 8, 2016 and is downtrending. It has underperformed by 22.73% the S&P500.
The move comes after 7 months positive chart setup for the $86.78 billion company. It was reported on Oct, 11 by Barchart.com. We have $76.55 PT which if reached, will make NYSE:NKE worth $41.65 billion more.
Nike Inc (NYSE:NKE) Ratings Coverage
Out of 33 analysts covering Nike Inc. (NYSE:NKE), 22 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 67% are positive. Nike Inc. has been the topic of 101 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Friday, September 25 the stock rating was maintained by Jefferies with “Buy”. The firm has “Buy” rating given on Tuesday, December 15 by Stifel Nicolaus. The stock of Nike Inc (NYSE:NKE) earned “Outperform” rating by Telsey Advisory Group on Monday, August 24. The stock has “Outperform” rating given by Credit Suisse on Wednesday, June 29. The firm earned “Positive” rating on Wednesday, August 26 by Susquehanna. The stock of Nike Inc (NYSE:NKE) earned “Outperform” rating by Telsey Advisory Group on Wednesday, December 23. Bank of America downgraded Nike Inc (NYSE:NKE) rating on Wednesday, June 1. Bank of America has “Neutral” rating and $60 price target. The stock of Nike Inc (NYSE:NKE) has “Outperform” rating given on Wednesday, September 28 by Telsey Advisory Group. Argus Research maintained the stock with “Buy” rating in Friday, October 16 report. The firm has “Neutral” rating given on Wednesday, September 28 by Bank of America.
According to Zacks Investment Research, “Nike, Inc.’s principal business activity involves the design, development and worldwide marketing of high quality footwear, apparel, equipment, and accessory products. NIKE is the one of the largest sellers of athletic footwear and athletic apparel in the world. The company sells its products to retail accounts in the United States and through a mix of independent distributors, licensees and subsidiaries in numerous countries around the world.”
Insitutional Activity: The institutional sentiment decreased to 0.87 in 2016 Q2. Its down 0.23, from 1.1 in 2016Q1. The ratio dropped, as 116 funds sold all Nike Inc shares owned while 470 reduced positions. 98 funds bought stakes while 413 increased positions. They now own 1.02 billion shares or 2.98% less from 1.05 billion shares in 2016Q1.
Moreover, Professional Advisory has 0.11% invested in Nike Inc (NYSE:NKE) for 8,700 shares. Royal National Bank & Trust Of Scotland Group Public Ltd Com has 0.89% invested in the company for 64,014 shares. Tokio Marine Asset Management Limited, a Japan-based fund reported 220,355 shares. Bkd Wealth Advsr Limited Liability holds 0.04% of its portfolio in Nike Inc (NYSE:NKE) for 4,280 shares. Private Fincl Bank And Tru last reported 5,294 shares in the company. Ahl Prtn Limited Liability Partnership has invested 0.01% of its portfolio in Nike Inc (NYSE:NKE). Blackrock Fund Advisors owns 17.12M shares or 0.21% of their US portfolio. Davy Asset Mngmt Ltd last reported 101,534 shares in the company. Utah Retirement Sys last reported 242,636 shares in the company. Parallax Volatility Advisers L P has 0.05% invested in the company for 424,295 shares. Triangle Secs Wealth Mgmt reported 8,110 shares or 0.33% of all its holdings. Oakworth Capital holds 0.06% of its portfolio in Nike Inc (NYSE:NKE) for 2,720 shares. Winfield Assoc has invested 0.16% of its portfolio in Nike Inc (NYSE:NKE). Valley National Advisers Inc has invested 0% of its portfolio in Nike Inc (NYSE:NKE). Spears Abacus Ltd Llc, a New York-based fund reported 13,951 shares.
Insider Transactions: Since April 14, 2016, the stock had 3 buys, and 7 sales for $26.40 million net activity. Krane Hilary K sold $3.25M worth of Nike Inc (NYSE:NKE) on Thursday, April 28. Shares for $60,180 were bought by LECHLEITER JOHN C on Thursday, April 21. Slusher John F sold 72,696 shares worth $4.20M. $67,481 worth of Nike Inc (NYSE:NKE) was sold by SPRUNK ERIC D. PARKER MARK G had sold 50,000 shares worth $3.00 million.
More important recent Nike Inc (NYSE:NKE) news were published by: Fool.com which released: “Adidas Goes on the Offensive — Should Nike Inc. Investors Worry?” on October 06, 2016, also Businesswire.com published article titled: “NIKE, Inc., Announces New VP, GM for North America Geography”, Bloomberg.com published: “Nike’s Order Slowdown Sparks Concern That Rivals Are Gaining” on September 27, 2016. More interesting news about Nike Inc (NYSE:NKE) was released by: Investorplace.com and their article: “Why Nike Inc (NKE), Tempur Sealy International Inc (TPX) and Twitter Inc (TWTR …” with publication date: September 28, 2016.
NKE Company Profile
NIKE, Inc., incorporated on September 8, 1969, is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating divisions include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. The Company’s portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse. The Firm sells its products to retail accounts, through its retail stores and Internet Websites, and through a mix of independent distributors and licensees across the world. The Company’s products are manufactured by independent contractors.
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