NIKE (NYSE:NKE) Director Jorgen Vig Knudstorp Buys 16,150 Shares

NIKE, Inc. (NYSE:NKE) Director Jorgen Vig Knudstorp purchased 16,150 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the transaction, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This trade represents a 308.32% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

NIKE Price Performance

Shares of NYSE:NKE traded down $0.32 during midday trading on Monday, hitting $60.77. The stock had a trading volume of 13,051,191 shares, compared to its average volume of 16,137,523. The company’s 50-day moving average price is $69.65 and its 200-day moving average price is $68.60. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $89.83 billion, a P/E ratio of 31.16, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NKE. BTIG Research initiated coverage on shares of NIKE in a research note on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price objective on the stock. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Truist Financial reissued a “buy” rating and issued a $85.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Finally, Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Institutional Investors Weigh In On NIKE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares in the last quarter. Cerity Partners LLC raised its position in NIKE by 34.6% in the 1st quarter. Cerity Partners LLC now owns 490,149 shares of the footwear maker’s stock worth $31,126,000 after purchasing an additional 126,080 shares during the period. Stephens Inc. AR boosted its position in NIKE by 19.4% in the 1st quarter. Stephens Inc. AR now owns 98,799 shares of the footwear maker’s stock valued at $6,272,000 after buying an additional 16,087 shares during the period. Westmount Partners LLC grew its holdings in NIKE by 8.2% during the 1st quarter. Westmount Partners LLC now owns 5,019 shares of the footwear maker’s stock worth $319,000 after acquiring an additional 379 shares in the last quarter. Finally, CWM LLC grew its position in shares of NIKE by 127.1% in the 1st quarter. CWM LLC now owns 86,828 shares of the footwear maker’s stock worth $5,512,000 after buying an additional 48,598 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

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.