Beta Wealth Group Inc. Buys 402 Shares of NIKE, Inc. (NYSE:NKE)

Beta Wealth Group Inc. increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,305 shares of the footwear maker’s stock after buying an additional 402 shares during the period. Beta Wealth Group Inc.’s holdings in NIKE were worth $557,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Rovin Capital UT ADV boosted its holdings in shares of NIKE by 32.3% during the third quarter. Rovin Capital UT ADV now owns 9,251 shares of the footwear maker’s stock worth $818,000 after acquiring an additional 2,258 shares during the period. Washington Trust Advisors Inc. lifted its holdings in NIKE by 0.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 137,124 shares of the footwear maker’s stock worth $12,122,000 after purchasing an additional 996 shares during the last quarter. Windward Capital Management Co. CA boosted its stake in NIKE by 0.3% in the 3rd quarter. Windward Capital Management Co. CA now owns 313,772 shares of the footwear maker’s stock valued at $27,737,000 after purchasing an additional 917 shares during the period. SpiderRock Advisors LLC grew its holdings in NIKE by 22.2% in the 3rd quarter. SpiderRock Advisors LLC now owns 55,402 shares of the footwear maker’s stock valued at $4,898,000 after buying an additional 10,066 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of NIKE during the third quarter worth $1,395,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $75.88 on Friday. The stock’s 50-day moving average is $81.39 and its 200-day moving average is $83.88. The stock has a market cap of $113.77 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced 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 during 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 company’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. Morgan Stanley raised their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Guggenheim dropped their price target 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. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Bank of America dropped their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $96.48.

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.