Jensen Investment Management Inc. Lowers Position in NIKE, Inc. $NKE

Jensen Investment Management Inc. trimmed its position in NIKE, Inc. (NYSE:NKE) by 96.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,798 shares of the footwear maker’s stock after selling 2,216,838 shares during the period. Jensen Investment Management Inc.’s holdings in NIKE were worth $5,953,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE in the 1st quarter worth about $25,000. Mascoma Wealth Management LLC bought a new stake in NIKE during the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC grew its holdings in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank bought a new position in shares of NIKE during the first quarter valued at approximately $30,000. Finally, Matrix Trust Co increased its stake in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other news, Director Jorgen Vig Knudstorp bought 16,150 shares of the company’s stock in a transaction on Friday, November 7th. The shares were acquired at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the completion of the transaction, the director owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This trade represents a 308.32% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Down 2.9%

Shares of NIKE stock opened at $64.11 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. 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 company’s 50 day moving average is $68.50 and its 200 day moving average is $68.73. The company has a market cap of $94.77 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. Research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the stock a “buy” rating in a research note on Thursday, September 25th. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Morgan Stanley set a $72.00 price target on shares of NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Three 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 stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $82.72.

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.