Nicholas Hoffman & Company LLC. Has $337,000 Stock Position in NIKE, Inc. (NYSE:NKE)

Nicholas Hoffman & Company LLC. reduced its stake in NIKE, Inc. (NYSE:NKE) by 4.7% during the third quarter, Holdings Channel.com reports. The fund owned 3,808 shares of the footwear maker’s stock after selling 188 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in NIKE were worth $337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bristlecone Advisors LLC lifted its stake in shares of NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares during the period. Farmers & Merchants Investments Inc. lifted its stake in NIKE by 44.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after buying an additional 60,008 shares during the period. Lafayette Investments Inc. lifted its stake in NIKE by 90.7% in the third quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock valued at $4,075,000 after buying an additional 21,922 shares during the period. Advisors Asset Management Inc. lifted its stake in NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the period. Finally, FORA Capital LLC acquired a new position in NIKE in the first quarter valued at approximately $3,412,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

NIKE Trading Down 2.5 %

Shares of NIKE stock opened at $76.43 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market cap of $114.60 billion, a PE ratio of 21.90, a P/E/G ratio of 1.90 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a fifty day moving average price of $82.37 and a 200-day moving average price of $84.67.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.76 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on NKE shares. Wells Fargo & Company boosted their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Telsey Advisory Group dropped their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Bank of America decreased their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Barclays lowered their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Company Profile

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.