Aviva PLC Buys 168,666 Shares of NIKE, Inc. $NKE

Aviva PLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 23.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 879,978 shares of the footwear maker’s stock after purchasing an additional 168,666 shares during the period. Aviva PLC owned about 0.06% of NIKE worth $62,514,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banco Santander S.A. boosted 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 worth $15,708,000 after purchasing an additional 48,764 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the period. Soltis Investment Advisors LLC lifted its position in NIKE by 238.8% in the second quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock worth $10,042,000 after buying an additional 99,638 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in NIKE during the first quarter worth $25,963,000. Finally, BROOKFIELD Corp ON increased its position in NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after acquiring an additional 175,000 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.4%

Shares of NYSE:NKE opened at $61.04 on Friday. The business’s 50 day moving average is $69.65 and its 200 day moving average is $68.52. The stock has a market cap of $90.22 billion, a P/E ratio of 31.30, 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. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on NKE. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Jefferies Financial Group restated a “buy” rating and set a $115.00 target price on shares of NIKE in a research report on Monday, September 29th. BTIG Research assumed coverage on NIKE in a research note on Tuesday, October 14th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of NIKE 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 transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was 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 corporate insiders.

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.