Pine Valley Investments Ltd Liability Co Boosts Stock Position in NIKE, Inc. $NKE

Pine Valley Investments Ltd Liability Co raised its holdings in NIKE, Inc. (NYSE:NKE) by 43.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,295 shares of the footwear maker’s stock after purchasing an additional 12,464 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in NIKE were worth $2,182,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in NIKE during the 1st quarter worth $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of NIKE in the 4th quarter valued at about $26,000. Sankala Group LLC acquired a new stake in shares of NIKE in the 4th quarter valued at about $26,000. Meeder Asset Management Inc. raised its stake in shares of NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Finally, J.Safra Asset Management Corp bought a new position in shares of NIKE during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NKE. Sanford C. Bernstein reiterated an “outperform” rating and issued a $68.00 price target (down from $72.00) on shares of NIKE in a research note on Wednesday, July 29th. Robert W. Baird restated an “outperform” rating and set a $70.00 price objective on shares of NIKE in a research note on Wednesday, July 1st. UBS Group set a $48.00 target price on NIKE and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Citigroup reiterated a “neutral” rating on shares of NIKE in a research report on Wednesday, July 22nd. Finally, Guggenheim reiterated a “buy” rating and issued a $60.00 price target (down from $74.00) on shares of NIKE in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Hold” and an average target price of $53.74.

NIKE Price Performance

Shares of NYSE:NKE opened at $42.63 on Tuesday. The company has a market cap of $63.25 billion, a PE ratio of 20.40, a P/E/G ratio of 1.85 and a beta of 1.12. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17. The firm has a 50-day simple moving average of $43.52 and a 200 day simple moving average of $50.09. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter last year, the company posted $0.14 earnings per share. NIKE’s revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE, Inc. will post 1.74 EPS for the current year.

Insider Buying and Selling at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.10% of the company’s stock.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).