Crossmark Global Holdings Inc. Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Crossmark Global Holdings Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 228,611 shares of the footwear maker’s stock after selling 34,957 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in NIKE were worth $20,210,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NKE. 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 increased its stake in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares during the period. PineStone Asset Management Inc. lifted its position 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 worth $204,681,000 after purchasing an additional 1,576,049 shares during the last quarter. Renaissance Technologies LLC boosted its stake 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 purchasing an additional 1,550,611 shares during the period. Finally, Swedbank AB bought a new position in shares of NIKE in the first quarter worth about $93,357,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chairman now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

NKE traded down $0.04 during trading on Friday, hitting $75.88. The company’s stock had a trading volume of 8,140,788 shares, compared to its average volume of 9,333,267. The firm has a market capitalization of $113.77 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 1.83 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 business’s fifty day simple moving average is $81.39 and its 200 day simple moving average is $83.88. 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 (NYSE:NKE) last issued its quarterly 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 analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. On average, equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on NKE shares. Robert W. Baird upped their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Evercore ISI cut their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Bank of America reduced their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Barclays reduced their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.