NIKE, Inc. (NYSE:NKE) Stake Lifted by Cable Hill Partners LLC

Cable Hill Partners LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 27.6% in the 3rd quarter, Holdings Channel reports. The fund owned 33,751 shares of the footwear maker’s stock after buying an additional 7,308 shares during the period. NIKE comprises 0.3% of Cable Hill Partners LLC’s investment portfolio, making the stock its 24th biggest holding. Cable Hill Partners LLC’s holdings in NIKE were worth $2,996,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NKE. Transcendent Capital Group LLC lifted its position in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC raised its holdings in shares of 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 acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in NIKE during the second quarter valued at approximately $46,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NKE. Telsey Advisory Group lowered their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their price objective for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.48.

NIKE Price Performance

NYSE:NKE opened at $76.51 on Thursday. The firm has a market cap of $114.72 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.86 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 50 day moving average price of $81.16 and a 200-day moving average price of $83.49. 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 (NYSE:NKE) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the business earned $0.94 earnings per share. NIKE’s revenue was down 10.4% compared to the same quarter last year. Equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current 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.