Parthenon LLC Acquires Shares of 26,469 NIKE, Inc. (NYSE:NKE)

Parthenon LLC bought a new position in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 26,469 shares of the footwear maker’s stock, valued at approximately $2,340,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Condor Capital Management raised its holdings in NIKE by 0.4% in the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares during the last quarter. Garrison Point Advisors LLC increased its holdings in shares of NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC raised its stake in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC lifted its holdings in shares of NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares in the last quarter. Finally, Pitcairn Co. lifted its holdings in shares of NIKE by 0.5% during the first quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock valued at $2,732,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NIKE stock traded up $0.12 during midday trading on Wednesday, reaching $76.78. 1,100,132 shares of the stock traded hands, compared to its average volume of 11,473,891. 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 12 month low of $70.75 and a 12 month high of $123.39. The stock’s fifty day moving average is $81.16 and its 200-day moving average is $83.49. The stock has a market cap of $115.12 billion, a P/E ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm 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 company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on NKE. Robert W. Baird lifted their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Barclays decreased their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and raised their price target for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.48.

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.