NIKE, Inc. $NKE Shares Sold by Y.D. More Investments Ltd

Y.D. More Investments Ltd lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 67.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,410 shares of the footwear maker’s stock after selling 21,965 shares during the period. Y.D. More Investments Ltd’s holdings in NIKE were worth $740,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP lifted its position in NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Nuveen LLC purchased a new stake in NIKE during the first quarter worth approximately $502,285,000. Vanguard Group Inc. increased its position in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares in the last quarter. Finally, Generation Investment Management LLP acquired a new stake in shares of NIKE in the first quarter worth $215,768,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 2.9%

Shares of NIKE stock opened at $64.11 on Friday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a market capitalization of $94.77 billion, a PE ratio of 32.88, 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 business has a 50-day moving average of $68.50 and a 200-day moving average of $68.73.

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

Insider Activity at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the firm’s 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 owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the acquisition, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein restated a “buy” rating and set a $90.00 target price on shares of NIKE in a report on Monday, October 13th. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Telsey Advisory Group restated a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Piper Sandler set a $84.00 target price on NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, Morgan Stanley set a $72.00 target price on NIKE and gave the company a “positive” rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.