NIKE, Inc. $NKE Stock Holdings Lifted by Vanguard Group Inc.

Vanguard Group Inc. grew its position in shares of NIKE, Inc. (NYSE:NKE) by 0.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 113,823,785 shares of the footwear maker’s stock after acquiring an additional 672,705 shares during the period. Vanguard Group Inc. owned 0.08% of NIKE worth $8,086,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in NIKE in the first quarter worth $25,000. Mascoma Wealth Management LLC bought a new stake in NIKE during the second quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC raised its position in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank bought a new position in shares of NIKE in the first quarter valued at approximately $30,000. Finally, Matrix Trust Co boosted its holdings in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent analyst reports. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Truist Financial reiterated a “buy” rating and set a $85.00 price target on shares of NIKE in a report on Wednesday, October 1st. Sanford C. Bernstein reiterated a “buy” rating and set a $90.00 target price on shares of NIKE in a research note on Monday, October 13th. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price target on shares of NIKE in a report on Monday, September 29th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a report on Friday, October 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.24.

NIKE Trading Down 0.6%

Shares of NIKE stock opened at $62.55 on Wednesday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The firm has a market capitalization of $92.46 billion, a PE ratio of 32.08, 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 current ratio of 2.19 and a quick ratio of 1.45. The company’s fifty day moving average price is $68.05 and its two-hundred day moving average price is $68.89.

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

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the purchase, the director owned 21,388 shares in the company, valued at approximately $1,327,980.92. This trade represents a 308.32% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the transaction, the chairman owned 647,615 shares of the company’s stock, valued at $41,965,452. This trade represents a 11.73% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

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.