Intrua Financial LLC Sells 911 Shares of NIKE, Inc. $NKE

Intrua Financial LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 17.8% during the second quarter, HoldingsChannel reports. The fund owned 4,214 shares of the footwear maker’s stock after selling 911 shares during the quarter. Intrua Financial LLC’s holdings in NIKE were worth $299,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NKE. Soltis Investment Advisors LLC grew its position in NIKE by 238.8% during the 2nd quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock worth $10,042,000 after purchasing an additional 99,638 shares during the period. Banco Santander S.A. lifted its holdings in shares of NIKE by 28.3% in the 2nd quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock valued at $15,708,000 after buying an additional 48,764 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after buying an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of NIKE in the first quarter worth about $25,963,000. Finally, BROOKFIELD Corp ON grew its holdings in NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after acquiring an additional 175,000 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the purchase, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. The trade was a 308.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NKE shares. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Morgan Stanley set a $72.00 price objective on shares of NIKE and gave the company a “positive” rating in a report on Wednesday, October 1st. Royal Bank Of Canada reiterated an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. Finally, Piper Sandler set a $84.00 target price on NIKE and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $82.72.

NIKE Trading Down 2.9%

Shares of NKE opened at $64.11 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $68.50 and its two-hundred day moving average is $68.73. The stock has a market cap of $94.77 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. The company 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 quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE 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.