Rakuten Securities Inc. Purchases 1,240 Shares of NIKE, Inc. (NYSE:NKE)

Rakuten Securities Inc. boosted its position in NIKE, Inc. (NYSE:NKE) by 24.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,240 shares of the footwear maker’s stock after purchasing an additional 1,240 shares during the quarter. Rakuten Securities Inc.’s holdings in NIKE were worth $552,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NKE. Transcendent Capital Group LLC boosted its position in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares during 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 valued at $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in 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 buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in NIKE in the second quarter valued at approximately $44,000. Finally, Riverview Trust Co purchased a new stake in NIKE in the third quarter valued at approximately $52,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NYSE NKE opened at $76.60 on Tuesday. The stock has a market cap of $114.85 billion, a PE ratio of 21.95, a P/E/G ratio of 1.84 and a beta of 1.03. 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 twelve month low of $70.75 and a twelve month high of $123.39. The stock has a fifty day simple moving average of $81.25 and a 200-day simple moving average of $83.61.

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

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NKE. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and upped their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Stifel Nicolaus lowered their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Jefferies Financial Group upped their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Robert W. Baird upped their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Piper Sandler restated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Fourteen equities research 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, NIKE has an average rating of “Moderate Buy” and a consensus 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.