Tobam Buys 7,989 Shares of NIKE, Inc. $NKE

Tobam raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 27.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,271 shares of the footwear maker’s stock after purchasing an additional 7,989 shares during the quarter. Tobam’s holdings in NIKE were worth $2,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Stone House Investment Management LLC purchased a new stake in NIKE during the first quarter worth $25,000. Mascoma Wealth Management LLC acquired a new stake in NIKE in the 2nd quarter worth about $26,000. Halbert Hargrove Global Advisors LLC boosted its position in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares during the last quarter. Saudi Central Bank acquired a new position in NIKE during the 1st quarter worth $30,000. Finally, Matrix Trust Co raised its stake in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 3.8%

Shares of NKE opened at $63.10 on Wednesday. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The company has a market cap of $93.27 billion, a P/E ratio of 32.36, a P/E/G ratio of 2.41 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The firm has a 50 day simple moving average of $69.09 and a two-hundred day simple moving average of $68.66.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 earnings per share. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other NIKE news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction dated Friday, November 7th. The shares were bought at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the completion of the transaction, the director directly owned 21,388 shares in the company, valued at approximately $1,327,980.92. This trade represents a 308.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler set a $84.00 price target on shares of NIKE and gave the company an “overweight” rating in a research report on Wednesday, October 1st. DZ Bank raised shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Needham & Company LLC restated a “buy” rating and set a $78.00 target price on shares of NIKE in a report on Wednesday, October 1st. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the stock a “buy” rating in a report on Thursday, September 25th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $82.21.

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.