Nuance Investments LLC Boosts Stock Holdings in NIKE, Inc. $NKE

Nuance Investments LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 31.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 173,853 shares of the footwear maker’s stock after buying an additional 41,415 shares during the period. NIKE accounts for 1.0% of Nuance Investments LLC’s holdings, making the stock its 23rd biggest position. Nuance Investments LLC’s holdings in NIKE were worth $12,350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Goldman Sachs Group Inc. boosted its stake in shares of 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 acquiring an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP raised its holdings in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Jennison Associates LLC purchased a new position in NIKE during the first quarter worth approximately $509,051,000. Nuveen LLC acquired a new stake in NIKE in the first quarter valued at approximately $502,285,000. Finally, 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 valued at $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was 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 directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler set a $84.00 target price on NIKE and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. Truist Financial reaffirmed a “buy” rating and set a $85.00 price objective on shares of NIKE in a report on Wednesday, October 1st. KeyCorp set a $90.00 target price on shares of NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, Stifel Nicolaus set a $68.00 price target on shares of NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.21.

NIKE Stock Performance

NKE opened at $61.04 on Friday. The firm has a market capitalization of $90.22 billion, a PE ratio of 31.30, a PEG ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The firm’s 50-day moving average price is $69.65 and its 200 day moving average price is $68.52. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last released its quarterly earnings data 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 net margin of 6.23% and a return on equity of 21.16%. The company 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 firm earned $0.70 EPS. NIKE’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

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.