Interchange Capital Partners LLC Lowers Stake in NIKE, Inc. (NYSE:NKE)

Interchange Capital Partners LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,346 shares of the footwear maker’s stock after selling 687 shares during the period. Interchange Capital Partners LLC’s holdings in NIKE were worth $296,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of NKE. Transcendent Capital Group LLC boosted its holdings in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in NIKE during the second quarter worth about $44,000. Finally, Riverview Trust Co acquired a new position in NIKE during the third quarter worth about $52,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Jefferies Financial Group lifted their target price 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. Guggenheim cut their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Barclays cut their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Finally, Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents 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 Trading Up 1.2 %

NKE opened at $78.06 on Friday. The stock has a market capitalization of $117.04 billion, a PE ratio of 22.37, a P/E/G ratio of 1.86 and a beta of 1.02. The firm’s fifty day moving average price is $82.12 and its 200 day moving average price is $84.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

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.