Stiles Financial Services Inc Trims Stake in NIKE, Inc. (NYSE:NKE)

by · The Markets Daily

Stiles Financial Services Inc lowered its holdings in NIKE, Inc. (NYSE:NKE – Free Report) by 21.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,912 shares of the footwear maker’s stock after selling 3,224 shares during the quarter. Stiles Financial Services Inc’s holdings in NIKE were worth $1,053,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Vanguard Group Inc. grew its stake in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of NIKE by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after purchasing an additional 52,500 shares during the last quarter. Longview Partners Guernsey LTD purchased a new stake in NIKE during the 1st quarter valued at approximately $533,533,000. Finally, Capital World Investors raised its stake in NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related 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 sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE NKE opened at $75.50 on Friday. 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 firm’s 50-day moving average price is $81.68 and its two-hundred day moving average price is $84.07. 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 $113.20 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.88 and a beta of 1.03.

NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. Wells Fargo & Company upped their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. UBS Group boosted their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley increased their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.48.

Check Out Our Latest Analysis on NIKE

NIKE Profile

(Free Report)

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.

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