NIKE, Inc. (NYSE:NKE) Stock Holdings Decreased by Stone Point Wealth LLC

by · The Markets Daily

Stone Point Wealth LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 20.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,780 shares of the footwear maker’s stock after selling 4,920 shares during the period. Stone Point Wealth LLC’s holdings in NIKE were worth $1,660,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AIA Group Ltd lifted its holdings in shares of NIKE by 247.0% in the 3rd quarter. AIA Group Ltd now owns 53,077 shares of the footwear maker’s stock worth $4,692,000 after purchasing an additional 37,780 shares during the last quarter. Sittner & Nelson LLC lifted its stake in NIKE by 7.6% in the third quarter. Sittner & Nelson LLC now owns 28,430 shares of the footwear maker’s stock valued at $2,513,000 after buying an additional 2,013 shares during the last quarter. Confluence Investment Management LLC boosted its holdings in shares of NIKE by 1.1% during the third quarter. Confluence Investment Management LLC now owns 231,488 shares of the footwear maker’s stock valued at $20,464,000 after acquiring an additional 2,516 shares during the period. Mainstream Capital Management LLC bought a new stake in NIKE in the 3rd quarter valued at about $749,000. Finally, Western Pacific Wealth Management LP increased its stake in shares of NIKE by 0.3% in the third quarter. Western Pacific Wealth Management LP now owns 609,238 shares of the footwear maker’s stock valued at $53,857,000 after purchasing an additional 2,012 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

NKE has been the subject of several recent analyst reports. TD Cowen increased their price target on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group boosted their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Wells Fargo & Company upped their target price on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.48.

View Our Latest Research Report on NIKE

NIKE Stock Down 0.6 %

Shares of NIKE stock opened at $75.50 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The business’s 50 day simple moving average is $81.68 and its 200 day simple moving average is $84.07. The firm has a market cap of $113.20 billion, a PE ratio of 21.75, a P/E/G ratio of 1.88 and a beta of 1.03. 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 (NYSE:NKE – Get Free Report) last posted 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 net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction 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 transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

NIKE Company 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.

Further Reading

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