NIKE, Inc. (NYSE:NKE) Shares Acquired by SpiderRock Advisors LLC

SpiderRock Advisors LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 22.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,402 shares of the footwear maker’s stock after purchasing an additional 10,066 shares during the period. SpiderRock Advisors LLC’s holdings in NIKE were worth $4,898,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NKE. Cordatus Wealth Management LLC lifted its holdings in shares of NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after buying an additional 6,778 shares during the period. Bristlecone Advisors LLC raised its position in NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares in the last quarter. WoodTrust Financial Corp raised its position in NIKE by 19.9% in the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after acquiring an additional 16,303 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in NIKE by 44.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after acquiring an additional 60,008 shares during the last quarter. Finally, Heritage Investors Management Corp boosted its position in shares of NIKE by 2.6% during the 3rd quarter. Heritage Investors Management Corp now owns 352,199 shares of the footwear maker’s stock valued at $31,134,000 after purchasing an additional 9,068 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NIKE 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 transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

NIKE Trading Down 0.1 %

Shares of NYSE NKE opened at $75.88 on Friday. The stock has a market cap of $113.77 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.83 and a beta of 1.03. The business has a 50 day simple moving average of $81.39 and a 200 day simple moving average of $83.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and increased their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and increased their price objective for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Jefferies Financial Group upped their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Sanford C. Bernstein dropped their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.48.

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.