Carlton Hofferkamp & Jenks Wealth Management LLC Sells 744 Shares of NIKE, Inc. (NYSE:NKE)

Carlton Hofferkamp & Jenks Wealth Management LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 7.2% during the third quarter, HoldingsChannel.com reports. The fund owned 9,618 shares of the footwear maker’s stock after selling 744 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in NIKE were worth $850,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Transcendent Capital Group LLC grew 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 worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC grew 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 worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew 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 worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of NIKE during the second quarter worth about $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of NIKE in the second quarter worth approximately $46,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on NKE shares. Bank of America cut their price objective on 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 dropped their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. UBS Group boosted their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their price target for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.48.

NIKE Stock Performance

Shares of NKE opened at $76.67 on Wednesday. The stock’s 50-day simple moving average is $81.16 and its 200 day simple moving average is $83.49. The stock has a market capitalization of $114.96 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. 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, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $11.64 billion. During the same quarter last year, the firm posted $0.94 EPS. The company’s revenue was down 10.4% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 2.74 EPS 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.