NIKE, Inc. (NYSE:NKE) Stake Lessened by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,945 shares of the footwear maker’s stock after selling 255 shares during the period. QRG Capital Management Inc.’s holdings in NIKE were worth $6,625,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC boosted its holdings in shares of NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the period. VitalStone Financial LLC boosted its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of NIKE during the second quarter valued at $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of NIKE during the second quarter valued at $46,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NKE shares. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Robert W. Baird upped their price objective on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. UBS Group upped their price objective on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group upped their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Price Performance

Shares of NKE opened at $77.99 on Wednesday. The company has a market capitalization of $116.94 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 1.90 and a beta of 1.03. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The business’s 50-day moving average is $81.83 and its 200-day moving average is $84.13.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS 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 firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Profile

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.