Over the last three months Nike’s (NYSE:NKE) stock has been on a tear. Rallying from under $110 in early September to close to $130 today. Over this time period, analysts have continued to raise their targets and Nike has continued to perform incredibly well, not to mention signing a lifetime contract with basketball superstar Lebron James.
We will all find out if this trend will continue after hours today as the company reports their fiscal 2016 second quarter results. On average analysts expect Nike Inc (NYSE:NKE) to report $0.86 per share on $7.81 billion in revenue for the quarter. This would easily eclipse last year’s second quarter of 74 cents per share and is a 5.8% increase over last year’s revenue numbers. The stock increased 1.01% or $1.3 on December 22, hitting $129.82. About 1,773 shares traded hands. NKE has risen 24.04% since May 19, 2015 and is uptrending. It has outperformed the S&P500 by 26.31%.
From a total of 25 analysts covering Nike Inc. (NYSE:NKE) stock, 21 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 84% of the ratings are positive. The highest target price is $150.0 while the lowest target price is $109.0. The mean of all analyst targets is $138 which is 6.30% above today’s ($129.82) stock price. Nike Inc. was the topic of 44 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus maintained shares on December 15 with a “Buy” rating. S&P Research maintained shares with a”Buy” rating and a $136 target share price in their report from a September 28. Telsey Advisory Group maintained NKE stock in a recent report from November 2 with a “Outperform” rating. Credit Suisse maintained the rating on September 25. Credit Suisse has a “Outperform” rating and a $126 price target on shares. Finally, B. Riley & Co maintained the stock with a “Buy” rating in a report they issued on an October 16.
The institutional sentiment decreased to 1.01 in Q2 2015. It’s down 0.04, from 1.05 in 2015Q2. The ratio dived, as 51 funds sold all their Nike Inc shares they owned while 458 reduced their positions. 121 funds bought stakes while 393 increased their total positions. Institutions now own 505.48 million shares which is 7.73% less than the previous share count of 547.84 million in 2015Q2.
Jasper Ridge Partners L.P. holds 10.7% of its total portfolio in Nike Inc, equating to 1.17 million shares. Mcdonald Capital Investors Inc Ca owns 793,758 shares representing 10.49% of their total US portfolio. Moreover, Lansdowne Partners (Uk) Llp has 8.84% of their total portfolio invested in the company, equating to 8.53 million shares. The Florida-based Polen Capital Management Llc has a total of 7.82% of their portfolio invested in the stock. Suncoast Equity Management, a Florida-based fund reported 126,896 shares owned.
Since March 6, 2015, the stock had 0 insider buys, and 18 selling transactions for a total of $114.43 million in net activity. Sprunk Eric D sold 91,282 shares worth $12.09 million. Jackson Jeanne P sold 12,500 shares worth $1.60M. Cook Timothy D sold 8,000 shares worth $996,722. Krane Hilary K sold 25,000 shares worth $3.13M. The insider Slusher John F sold 28,000 shares worth $3.41 million.
NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The company has a market cap of $109.52 billion. The Firm sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites , and through a mix of independent distributors and licensees throughout the world. It has 32.78 P/E ratio. The Firm focuses its NIKE Brand product offerings in eight key categories: Running, Basketball, Football (Soccer), Men’s Training, Women’s Training, Action Sports, Sportswear (the Company’s sports-inspired lifestyle products) and Golf.