Prime Capital Investment Advisors LLC Sells 103,082 Shares of NIKE, Inc. (NYSE:NKE)

Prime Capital Investment Advisors LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 63.8% during the third quarter, HoldingsChannel.com reports. The fund owned 58,390 shares of the footwear maker’s stock after selling 103,082 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in NIKE were worth $5,162,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NKE. Verus Capital Partners LLC increased its stake in NIKE by 44.4% in the 3rd quarter. Verus Capital Partners LLC now owns 6,000 shares of the footwear maker’s stock worth $530,000 after buying an additional 1,845 shares during the period. Platform Technology Partners raised its stake in shares of NIKE by 6.3% during the third quarter. Platform Technology Partners now owns 13,334 shares of the footwear maker’s stock valued at $1,179,000 after acquiring an additional 788 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of NIKE by 24.8% in the third quarter. Rakuten Securities Inc. now owns 6,240 shares of the footwear maker’s stock valued at $552,000 after purchasing an additional 1,240 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in NIKE by 1.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,028,773 shares of the footwear maker’s stock worth $267,744,000 after purchasing an additional 34,563 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of NIKE by 10.9% during the third quarter. Baillie Gifford & Co. now owns 182,830 shares of the footwear maker’s stock valued at $16,162,000 after buying an additional 17,978 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NKE. Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Piper Sandler restated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. UBS Group increased their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird boosted their price target on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Trading Up 0.1 %

NYSE NKE opened at $76.67 on Wednesday. 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, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock has a market capitalization of $114.96 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. The firm has a 50-day moving average price of $81.25 and a 200 day moving average price of $83.61.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The business’s revenue was down 10.4% on a year-over-year basis. Equities research analysts expect 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.