NIKE, Inc. (NYSE:NKE) Shares Purchased by D.B. Root & Company LLC

D.B. Root & Company LLC lifted its position in NIKE, Inc. (NYSE:NKE) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,002 shares of the footwear maker’s stock after purchasing an additional 1,421 shares during the period. D.B. Root & Company LLC’s holdings in NIKE were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NKE. Cordatus Wealth Management LLC increased its holdings in NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after acquiring an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC increased its holdings in NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in NIKE by 44.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after acquiring an additional 60,008 shares in the last quarter. Heritage Investors Management Corp increased its holdings in NIKE by 2.6% in the 3rd quarter. Heritage Investors Management Corp now owns 352,199 shares of the footwear maker’s stock worth $31,134,000 after acquiring an additional 9,068 shares in the last quarter. Finally, Lafayette Investments Inc. increased its holdings in NIKE by 90.7% in the 3rd 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 in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 3.4 %

Shares of NKE opened at $75.29 on Thursday. The stock has a market capitalization of $112.89 billion, a PE ratio of 21.57, a P/E/G ratio of 1.88 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 debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company’s 50-day simple moving average is $81.68 and its 200-day simple moving average is $84.07.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. Analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NKE shares. Guggenheim dropped their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Daiwa America lowered 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 target price for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Robert W. Baird upped their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Evercore ISI dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

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.