Woodmont Investment Counsel LLC Sells 2,299 Shares of NIKE, Inc. (NYSE:NKE)

Woodmont Investment Counsel LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,827 shares of the footwear maker’s stock after selling 2,299 shares during the period. Woodmont Investment Counsel LLC’s holdings in NIKE were worth $2,460,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Transcendent Capital Group LLC increased its position 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 worth $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC increased its holdings in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of NIKE during the second quarter worth about $44,000. Finally, Riverview Trust Co bought a new position in shares of NIKE during the third quarter worth about $52,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Telsey Advisory Group reduced their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 2nd. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Finally, Jefferies Financial Group boosted their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NIKE stock opened at $75.29 on Thursday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $112.89 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a 50-day simple moving average of $81.68 and a two-hundred day simple moving average of $84.07.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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 firm 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 company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. Analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

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.