First Trust Direct Indexing L.P. Has $2.91 Million Position in NIKE, Inc. (NYSE:NKE)

First Trust Direct Indexing L.P. grew its holdings in NIKE, Inc. (NYSE:NKE) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,965 shares of the footwear maker’s stock after buying an additional 937 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in NIKE were worth $2,914,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NKE. Transcendent Capital Group LLC raised its stake in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC raised its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new position in NIKE in the 2nd quarter valued at $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of NIKE during the second quarter worth $46,000. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and raised their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Morgan Stanley lifted their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Stifel Nicolaus dropped their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada dropped their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company 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 the firm’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Stock Down 2.5 %

Shares of NIKE stock opened at $76.43 on Thursday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The business’s 50 day simple moving average is $82.37 and its 200 day simple moving average is $84.67. The firm has a market cap of $114.60 billion, a PE ratio of 21.90, a P/E/G ratio of 1.90 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the company earned $0.94 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.76 earnings per share for the current fiscal year.

NIKE Company 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.