Global Strategic Investment Solutions LLC Cuts Stake in NIKE, Inc. (NYSE:NKE)

Global Strategic Investment Solutions LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,596 shares of the footwear maker’s stock after selling 207 shares during the quarter. Global Strategic Investment Solutions LLC’s holdings in NIKE were worth $318,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NKE. Condor Capital Management boosted its stake in NIKE by 0.4% in the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after purchasing an additional 116 shares during the period. Nvwm LLC lifted its holdings in shares of NIKE by 1.0% in the first quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock worth $1,091,000 after buying an additional 120 shares in the last quarter. Garrison Point Advisors LLC boosted its position in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares during the last quarter. Stephens Consulting LLC grew its stake in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares in the last quarter. Finally, PSI Advisors LLC lifted its stake in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NKE shares. Royal Bank of Canada cut their price objective on NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Stifel Nicolaus lowered their target price on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Bank of America reduced their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Barclays decreased their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Up 0.8 %

NKE traded up $0.61 during trading on Thursday, hitting $75.93. The stock had a trading volume of 2,440,303 shares, compared to its average volume of 11,512,654. The stock has a 50 day simple moving average of $81.68 and a two-hundred day simple moving average of $84.07. 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, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a market capitalization of $113.85 billion, a PE ratio of 21.57, a PEG ratio of 1.88 and a beta of 1.03.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. 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 earned $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, research analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

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.