Bridges Investment Management Inc. Sells 89,953 Shares of NIKE, Inc. (NYSE:NKE)

Bridges Investment Management Inc. lowered its stake in NIKE, Inc. (NYSE:NKE) by 65.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 47,906 shares of the footwear maker’s stock after selling 89,953 shares during the quarter. Bridges Investment Management Inc.’s holdings in NIKE were worth $4,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Longview Partners Guernsey LTD bought a new position in shares of NIKE during the first quarter valued at approximately $533,533,000. Capital World Investors raised its holdings in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. PineStone Asset Management Inc. raised its holdings in shares of NIKE by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after acquiring an additional 1,576,049 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of 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 acquiring an additional 1,550,611 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of NIKE during the first quarter valued at approximately $93,357,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Performance

NYSE:NKE opened at $75.88 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The stock has a 50-day moving average price of $81.39 and a 200 day moving average price of $83.88. The stock has a market capitalization of $113.77 billion, a P/E ratio of 21.74, a P/E/G ratio of 1.83 and a beta of 1.03.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group upped their price target on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and upped their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Finally, Morgan Stanley increased their target price on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $96.48.

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.