NIKE, Inc. (NYSE:NKE) Shares Sold by Capitol Family Office Inc.

Capitol Family Office Inc. trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,538 shares of the footwear maker’s stock after selling 4,931 shares during the quarter. NIKE comprises 6.2% of Capitol Family Office Inc.’s holdings, making the stock its 3rd biggest position. Capitol Family Office Inc.’s holdings in NIKE were worth $4,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Cordatus Wealth Management LLC raised its holdings in NIKE by 19.5% during the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC lifted its holdings in shares of NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after buying an additional 11,665 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in shares of NIKE by 44.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after buying an additional 60,008 shares during the period. Lafayette Investments Inc. grew its holdings in NIKE by 90.7% during the third quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock worth $4,075,000 after acquiring an additional 21,922 shares during the period. Finally, Advisors Asset Management Inc. raised its position in NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 1.2 %

NKE stock opened at $78.06 on Monday. The firm has a market cap of $117.04 billion, a PE ratio of 22.37, a PEG ratio of 1.87 and a beta of 1.03. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a fifty day simple moving average of $82.12 and a 200 day simple moving average of $84.37. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced 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. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Sell-side analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NKE. UBS Group lifted their price objective on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and upped their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Robert W. Baird lifted their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Finally, Sanford C. Bernstein dropped their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.56.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.