VeraBank N.A. Trims Stake in NIKE, Inc. $NKE

VeraBank N.A. decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,342 shares of the footwear maker’s stock after selling 862 shares during the period. VeraBank N.A.’s holdings in NIKE were worth $948,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Mascoma Wealth Management LLC acquired a new stake in NIKE in the second quarter valued at $26,000. Stone House Investment Management LLC purchased a new position in NIKE during the 1st quarter valued at about $25,000. Halbert Hargrove Global Advisors LLC raised its position in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares during the last quarter. Matrix Trust Co lifted its holdings in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares in the last quarter. Finally, Saudi Central Bank acquired a new stake in shares of NIKE in the first quarter valued at approximately $30,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In related news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the purchase, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. The trade was a 308.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by insiders.

NIKE Stock Performance

NYSE:NKE opened at $60.77 on Tuesday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The firm has a 50-day moving average of $69.31 and a two-hundred day moving average of $68.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock has a market cap of $89.83 billion, a P/E ratio of 31.16, a PEG ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NKE shares. JPMorgan Chase & Co. increased their price objective on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of NIKE in a research report on Monday, September 29th. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price on shares of NIKE in a report on Wednesday, October 1st. Finally, BTIG Research assumed coverage on NIKE in a report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.21.

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.