Greenwood Capital Associates LLC Sells 33,373 Shares of NIKE, Inc. (NYSE:NKE)

Greenwood Capital Associates LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 65.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,414 shares of the footwear maker’s stock after selling 33,373 shares during the period. Greenwood Capital Associates LLC’s holdings in NIKE were worth $1,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Longview Partners Guernsey LTD acquired a new stake in shares of NIKE during the first quarter worth $533,533,000. Capital World Investors increased its holdings in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares during the period. PineStone Asset Management Inc. raised its position in shares of NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after buying an additional 1,576,049 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares during the period. Finally, Swedbank AB acquired a new stake in NIKE during the first quarter worth approximately $93,357,000. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

NYSE:NKE opened at $77.19 on Tuesday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The business has a 50 day simple moving average of $81.98 and a 200-day simple moving average of $84.24. The firm has a market capitalization of $115.74 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

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

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NKE shares. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, TD Cowen boosted their target price on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

About NIKE

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.