Atlantic Union Bankshares Corp Buys 36,265 Shares of NIKE, Inc. $NKE

Atlantic Union Bankshares Corp grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 138.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,391 shares of the footwear maker’s stock after buying an additional 36,265 shares during the period. Atlantic Union Bankshares Corp’s holdings in NIKE were worth $4,432,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NKE. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in NIKE by 1.0% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock valued at $1,007,000 after purchasing an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. increased its stake in shares of NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after purchasing an additional 142 shares in the last quarter. Salomon & Ludwin LLC raised its position in shares of NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock valued at $120,000 after purchasing an additional 145 shares during the period. Westmount Partners LLC lifted its stake in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after buying an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after buying an additional 147 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of analyst reports. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. Morgan Stanley set a $72.00 target price on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 price target on shares of NIKE in a report on Wednesday, October 1st. KeyCorp set a $90.00 price target on NIKE and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.21.

NIKE Trading Down 0.4%

NKE stock opened at $61.89 on Friday. The firm has a fifty day moving average price of $69.97 and a 200 day moving average price of $68.41. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The firm has a market cap of $91.48 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the business earned $0.70 earnings per share. NIKE’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 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.