Midwest Trust Co Makes New Investment in NIKE, Inc. $NKE

Midwest Trust Co acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,068 shares of the footwear maker’s stock, valued at approximately $1,639,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Banco Santander S.A. grew its position in shares of NIKE by 28.3% during the 2nd quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after buying an additional 48,764 shares during the period. Soltis Investment Advisors LLC boosted its stake in NIKE by 238.8% during the 2nd quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock worth $10,042,000 after acquiring an additional 99,638 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after purchasing an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new stake in NIKE in the first quarter valued at approximately $25,963,000. Finally, BROOKFIELD Corp ON raised its holdings in NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NIKE news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the purchase, the director owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. UBS Group set a $71.00 target price on NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a report on Friday, October 10th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Stock Down 0.5%

NKE stock opened at $60.77 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock has a market capitalization of $89.83 billion, a P/E ratio of 31.16, a P/E/G ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The business has a 50-day moving average of $69.31 and a 200-day moving average of $68.62.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

About NIKE

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.