NIKE, Inc. (NYSE:NKE) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 29,418 shares of the footwear maker’s stock after selling 262 shares during the period. Mutual Advisors LLC’s holdings in NIKE were worth $2,601,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC increased its stake in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC lifted its stake in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE during the second quarter worth $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of NIKE during the second quarter worth $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 2.5 %

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

NIKE (NYSE:NKE) last posted its 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 net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the business posted $0.94 EPS. NIKE’s revenue was down 10.4% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 2.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays dropped their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Stifel Nicolaus cut their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. UBS Group boosted their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Bank of America decreased their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction 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 transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

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.