Folger Nolan Fleming Douglas Capital Management Inc. Buys 275 Shares of NIKE, Inc. (NYSE:NKE)

Folger Nolan Fleming Douglas Capital Management Inc. grew its holdings in NIKE, Inc. (NYSE:NKE) by 5.6% in the third quarter, HoldingsChannel reports. The fund owned 5,215 shares of the footwear maker’s stock after buying an additional 275 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in NIKE were worth $461,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NKE. Longview Partners Guernsey LTD acquired a new stake in NIKE during the 1st quarter worth approximately $533,533,000. Capital World Investors increased its position in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares during the last quarter. Jennison Associates LLC grew its stake in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after acquiring an additional 2,775,510 shares during the period. PineStone Asset Management Inc. grew its holdings in NIKE by 138.3% during the 2nd 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. Finally, Renaissance Technologies LLC boosted its stake in NIKE by 351.7% during 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. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NKE. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Robert W. Baird increased their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Evercore ISI decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, UBS Group increased their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Stock Down 2.5 %

NIKE stock opened at $76.43 on Thursday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market cap of $114.60 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.90 and a beta of 1.02. The stock’s 50 day moving average price is $82.37 and its 200 day moving average price is $84.67.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping 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 net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 2.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated 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 directly 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 filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

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.