Sierra Legacy Group Raises Holdings in NIKE, Inc. $NKE

Sierra Legacy Group grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 22.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,354 shares of the footwear maker’s stock after purchasing an additional 3,000 shares during the quarter. Sierra Legacy Group’s holdings in NIKE were worth $1,162,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake 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 valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 during the last quarter. Nuveen LLC acquired a new position in shares of NIKE in the 1st quarter valued at $502,285,000. Vanguard Group Inc. raised its stake in NIKE by 4.6% in the 1st 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 during the last quarter. Finally, Generation Investment Management LLP purchased a new position in NIKE in the 1st quarter worth $215,768,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other NIKE news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction on Friday, November 7th. The shares were bought at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the transaction, the director owned 21,388 shares of the company’s stock, valued at $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 available through this link. Also, EVP Treasure Heinle sold 4,300 shares of the business’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 value 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 $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NKE. Telsey Advisory Group reiterated a “market perform” rating and set a $75.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Barclays set a $70.00 price objective on shares of NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research note on Monday, October 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $82.24.

NIKE Price Performance

Shares of NYSE NKE opened at $62.55 on Wednesday. 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 stock has a market capitalization of $92.46 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 2.41 and a beta of 1.29. The firm’s 50 day simple moving average is $68.05 and its 200-day simple moving average is $68.89. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44.

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