NIKE, Inc. (NYSE:NKE) Shares Sold by US Bancorp DE

US Bancorp DE lessened its position in NIKE, Inc. (NYSE:NKE) by 20.4% during the third quarter, Holdings Channel reports. The institutional investor owned 1,023,690 shares of the footwear maker’s stock after selling 262,294 shares during the quarter. US Bancorp DE’s holdings in NIKE were worth $90,495,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Palumbo Wealth Management LLC raised its stake in shares of NIKE by 0.7% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,054 shares of the footwear maker’s stock worth $2,038,000 after buying an additional 151 shares in the last quarter. Bank Hapoalim BM bought a new stake in shares of NIKE in the 3rd quarter worth $1,073,000. Meitav Investment House Ltd. raised its position in shares of NIKE by 1.5% during the third quarter. Meitav Investment House Ltd. now owns 540,965 shares of the footwear maker’s stock worth $47,710,000 after purchasing an additional 7,985 shares during the period. Tevis Investment Management raised its position in shares of NIKE by 9.4% during the third quarter. Tevis Investment Management now owns 11,784 shares of the footwear maker’s stock worth $1,046,000 after purchasing an additional 1,010 shares during the period. Finally, Financial Advocates Investment Management raised its position in shares of NIKE by 9.6% during the third quarter. Financial Advocates Investment Management now owns 17,787 shares of the footwear maker’s stock worth $1,572,000 after purchasing an additional 1,562 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $77.13 on Friday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market capitalization of $115.65 billion, a PE ratio of 22.10, a P/E/G ratio of 1.86 and a beta of 1.02. The stock has a 50-day simple moving average of $82.24 and a 200 day simple moving average of $84.61.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. Research analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NKE. Morgan Stanley boosted their target price on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. 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 report on Wednesday, October 2nd. Evercore ISI dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Barclays dropped their price target 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. Finally, Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $96.56.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

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.