KBC Group NV Purchases 1,250,380 Shares of NIKE, Inc. (NYSE:NKE)

KBC Group NV boosted its position in NIKE, Inc. (NYSE:NKE) by 145.2% in the 3rd quarter, Holdings Channel reports. The firm owned 2,111,708 shares of the footwear maker’s stock after buying an additional 1,250,380 shares during the quarter. NIKE accounts for approximately 0.6% of KBC Group NV’s portfolio, making the stock its 28th biggest position. KBC Group NV’s holdings in NIKE were worth $186,675,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NKE. Transcendent Capital Group LLC lifted its holdings in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC boosted its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC grew its stake in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in NIKE during the 2nd quarter worth $44,000. Finally, Riverview Trust Co purchased a new stake in shares of NIKE in the 3rd quarter worth $52,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.2 %

NKE opened at $76.51 on Thursday. The company has a fifty day moving average of $81.16 and a two-hundred day moving average of $83.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a market capitalization of $114.72 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the firm posted $0.94 EPS. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Bank of America cut their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

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.