Quintet Private Bank Europe S.A. Acquires 112,066 Shares of NIKE, Inc. (NYSE:NKE)

Quintet Private Bank Europe S.A. boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 25.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 552,280 shares of the footwear maker’s stock after buying an additional 112,066 shares during the quarter. NIKE accounts for 2.8% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 10th largest position. Quintet Private Bank Europe S.A.’s holdings in NIKE were worth $48,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC raised its holdings in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at $44,000. Finally, Riverview Trust Co acquired a new stake in shares of NIKE in the 3rd quarter valued at $52,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock traded up $0.19 during trading on Monday, reaching $78.25. 1,210,223 shares of the company were exchanged, compared to its average volume of 11,535,619. The company has a market cap of $117.32 billion, a P/E ratio of 22.37, a PEG ratio of 1.87 and a beta of 1.03. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock’s 50 day moving average price is $82.12 and its 200 day moving average price is $84.37. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

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. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research analyst reports. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Bank of America cut their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Royal Bank of Canada cut their price target on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

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.