King Luther Capital Management Corp Decreases Stock Position in NIKE, Inc. $NKE

King Luther Capital Management Corp lessened its stake in NIKE, Inc. (NYSE:NKE) by 34.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,049 shares of the footwear maker’s stock after selling 41,847 shares during the quarter. King Luther Capital Management Corp’s holdings in NIKE were worth $5,545,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Roberts Glore & Co. Inc. IL boosted its position in shares of NIKE by 5.6% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 6,559 shares of the footwear maker’s stock valued at $466,000 after purchasing an additional 350 shares during the period. PFG Advisors increased its position in shares of NIKE by 4,559.6% in the second quarter. PFG Advisors now owns 186,246 shares of the footwear maker’s stock worth $13,231,000 after acquiring an additional 182,249 shares in the last quarter. Nuance Investments LLC increased its position in shares of NIKE by 31.3% in the second quarter. Nuance Investments LLC now owns 173,853 shares of the footwear maker’s stock worth $12,350,000 after acquiring an additional 41,415 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of NIKE by 14.3% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,941 shares of the footwear maker’s stock valued at $280,000 after acquiring an additional 494 shares during the period. Finally, Midwest Trust Co purchased a new stake in shares of NIKE in the 2nd quarter valued at approximately $1,639,000. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction 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. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

NIKE Trading Down 1.4%

Shares of NKE stock opened at $61.04 on Monday. The stock has a market cap of $90.22 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $69.65 and a 200-day moving average of $68.60.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on NKE shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. Barclays set a $70.00 price target on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. BTIG Research initiated coverage on shares of NIKE in a research note on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Finally, Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. 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 company. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price 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.