National Asset Management Inc. grew its position in NIKE, Inc. (NYSE:NKE) by 54.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,530 shares of the footwear maker’s stock after purchasing an additional 10,001 shares during the period. National Asset Management Inc.’s holdings in NIKE were worth $3,468,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sonora Investment Management LLC grew its stake in shares of NIKE by 1.1% in the 3rd quarter. Sonora Investment Management LLC now owns 7,550 shares of the footwear maker’s stock valued at $948,000 after buying an additional 79 shares in the last quarter. Mcdaniel Terry & Co. raised its holdings in shares of NIKE by 2.5% during the 3rd quarter. Mcdaniel Terry & Co. now owns 3,236 shares of the footwear maker’s stock valued at $406,000 after purchasing an additional 80 shares in the last quarter. Clarius Group LLC raised its holdings in shares of NIKE by 0.8% during the 3rd quarter. Clarius Group LLC now owns 11,031 shares of the footwear maker’s stock valued at $1,385,000 after purchasing an additional 84 shares in the last quarter. Fundamentun LLC lifted its stake in shares of NIKE by 0.5% in the 3rd quarter. Fundamentun LLC now owns 15,435 shares of the footwear maker’s stock valued at $1,938,000 after purchasing an additional 84 shares during the last quarter. Finally, Insight Wealth Strategies LLC boosted its holdings in NIKE by 4.3% in the third quarter. Insight Wealth Strategies LLC now owns 2,170 shares of the footwear maker’s stock worth $272,000 after purchasing an additional 89 shares in the last quarter. 64.20% of the stock is owned by institutional investors.
In related news, CFO Matthew Friend sold 75,700 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $119.70, for a total transaction of $9,061,290.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Hilary K. Krane sold 5,670 shares of NIKE stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $123.30, for a total value of $699,111.00. The disclosure for this sale can be found here. Insiders have sold 776,276 shares of company stock worth $96,901,137 over the last ninety days. Insiders own 3.80% of the company’s stock.
NKE has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on NIKE from $136.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 23rd. Bank of America increased their price target on NIKE from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Piper Sandler boosted their price objective on shares of NIKE from $148.00 to $153.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Wells Fargo & Company upped their price objective on shares of NIKE from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, September 23rd. Finally, Argus lifted their target price on shares of NIKE from $115.00 to $145.00 in a report on Thursday, September 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. NIKE currently has a consensus rating of “Buy” and a consensus target price of $137.26.
NYSE:NKE traded up $0.20 during trading hours on Tuesday, reaching $130.31. The company had a trading volume of 71,460 shares, compared to its average volume of 7,585,803. The company has a quick ratio of 1.77, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average of $127.36 and a two-hundred day moving average of $107.87. NIKE, Inc. has a one year low of $60.00 and a one year high of $136.35. The firm has a market capitalization of $204.25 billion, a PE ratio of 78.06, a PEG ratio of 2.70 and a beta of 0.82.
NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 22nd. The footwear maker reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.49. NIKE had a net margin of 7.20% and a return on equity of 34.62%. The company had revenue of $10.59 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the company earned $0.27 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 2.83 earnings per share for the current year.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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