VeraBank N.A. Has $1.39 Million Position in NIKE, Inc. (NYSE:NKE)

VeraBank N.A. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 15,672 shares of the footwear maker’s stock after selling 185 shares during the quarter. VeraBank N.A.’s holdings in NIKE were worth $1,385,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Transcendent Capital Group LLC boosted its holdings in shares of NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares during the period. VitalStone Financial LLC lifted its holdings in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC bought a new position in NIKE during the 2nd quarter worth $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE during the second quarter worth $46,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. UBS Group raised their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Guggenheim reduced their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and increased their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $96.48.

NIKE Stock Down 0.1 %

NKE traded down $0.04 during midday trading on Friday, hitting $75.88. The company had a trading volume of 8,140,788 shares, compared to its average volume of 9,333,267. The company has a market capitalization of $113.77 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.83 and a beta of 1.03. The stock’s 50 day moving average price is $81.39 and its 200 day moving average price is $83.81. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. On average, research analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE 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.