The stock of Nike Inc (NYSE:NKE) is a huge mover today! About 2.61M shares traded hands. Nike Inc (NYSE:NKE) has declined 13.00% since April 11, 2016 and is downtrending. It has underperformed by 19.15% the S&P500.
The move comes after 6 months positive chart setup for the $83.10B company. It was reported on Nov, 11 by Barchart.com. We have $68.84 PT which if reached, will make NYSE:NKE worth $29.92B more.
Nike Inc (NYSE:NKE) Ratings Coverage
Out of 35 analysts covering Nike Inc. (NYSE:NKE), 22 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 63% are positive. Nike Inc. has been the topic of 106 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Tuesday, October 11 the stock rating was initiated by Susquehanna with “Positive”. Brean Capital maintained Nike Inc (NYSE:NKE) on Wednesday, June 29 with “Buy” rating. The rating was maintained by B. Riley & Co with “Neutral” on Wednesday, September 28. The firm earned “Overweight” rating on Wednesday, September 28 by Barclays Capital. Telsey Advisory Group maintained it with “Outperform” rating and $144.0 target price in Wednesday, December 23 report. As per Wednesday, September 28, the company rating was maintained by UBS. The firm has “Overweight” rating by JP Morgan given on Monday, March 21. On Monday, December 28 the stock rating was maintained by DA Davidson with “Buy”. The firm has “Overweight” rating by JP Morgan given on Wednesday, September 28. UBS maintained Nike Inc (NYSE:NKE) rating on Wednesday, June 29. UBS has “Buy” rating and $70 price target.
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 Q2 2016. Its down 0.23, from 1.1 in 2016Q1. The ratio turned negative, 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.
Gilder Gagnon Howe & Limited Liability Company last reported 36,527 shares in the company. Nomura holds 17,907 shares or 0% of its portfolio. The Illinois-based First Advsrs Limited Partnership has invested 0.05% in Nike Inc (NYSE:NKE). Alecta Pensionsforsakring Omsesidigt accumulated 2.27% or 4.21M shares. Natl Asset Mngmt owns 22,972 shares or 0.25% of their US portfolio. Augustine Asset accumulated 3.1% or 70,348 shares. Moreover, Atlanta Cap Group has 0.7% invested in Nike Inc (NYSE:NKE) for 57,039 shares. Csat Invest Advisory Limited Partnership last reported 5.47% of its portfolio in the stock. Quantitative Systematic Strategies Limited Company owns 6,856 shares or 0.18% of their US portfolio. Meiji Yasuda Asset Mngmt Com holds 0.49% of its portfolio in Nike Inc (NYSE:NKE) for 62,222 shares. Lenox Wealth Incorporated holds 1,217 shares or 0.02% of its portfolio. The Kentucky-based Community Trust & Inv Company has invested 0.09% in Nike Inc (NYSE:NKE). The Oregon-based Confluence Wealth Mgmt Ltd Liability Corp has invested 0.74% in Nike Inc (NYSE:NKE). Moreover, First Foundation Advsr has 0.01% invested in Nike Inc (NYSE:NKE) for 3,746 shares. Lumina Fund Management Limited Liability Company reported 64,700 shares or 0.28% of all its holdings.
Insider Transactions: Since July 1, 2016, the stock had 2 insider buys, and 3 sales for $17.26 million net activity. The insider LECHLEITER JOHN C bought $55,090. The insider Slusher John F sold $4.20 million. 150,000 shares were sold by PARKER MARK G, worth $7.47M. 100,000 shares were sold by Krane Hilary K, worth $5.70 million on Monday, July 25.
More notable recent Nike Inc (NYSE:NKE) news were published by: Investorplace.com which released: “Buffett Should Buy Every Last Share of Nike Inc (NKE) Stock” on November 11, 2016, also Fool.com with their article: “Better Buy: Nike Inc vs. Adidas” published on October 19, 2016, Fool.com published: “Nike Inc.’s “ManRev” Project — How Nike Plans to Shape the Future of …” on October 27, 2016. More interesting news about Nike Inc (NYSE:NKE) were released by: Fool.com and their article: “Better Buy: Nike Inc. or Skechers USA Inc?” published on October 13, 2016 as well as Investorplace.com‘s news article titled: “Wall Street’s Loss on Nike Inc (NKE) Stock Is Definitely Your Gain” with publication date: November 03, 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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