Hamel Associates Inc. Grows Position in NIKE, Inc. (NYSE:NKE)

Hamel Associates Inc. lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1,834.2% in the third quarter, Holdings Channel.com reports. The fund owned 65,860 shares of the footwear maker’s stock after purchasing an additional 62,455 shares during the period. NIKE comprises approximately 1.8% of Hamel Associates Inc.’s portfolio, making the stock its 23rd largest holding. Hamel Associates Inc.’s holdings in NIKE were worth $5,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC increased its holdings in shares of NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC boosted its position in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in NIKE during the 2nd quarter valued at approximately $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in NIKE during the 2nd quarter valued at approximately $46,000. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.1 %

Shares of NIKE stock opened at $76.67 on Wednesday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm has a market cap of $114.96 billion, a PE ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. The business’s fifty day moving average is $81.16 and its two-hundred day moving average is $83.49. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. Analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Guggenheim dropped their target price on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Bank of America dropped their target price on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Finally, Morgan Stanley upped their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.48.

About NIKE

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.