Bailard Inc. Has $4.85 Million Stock Position in NIKE, Inc. $NKE

Bailard Inc. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 39.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 68,257 shares of the footwear maker’s stock after acquiring an additional 19,338 shares during the quarter. Bailard Inc.’s holdings in NIKE were worth $4,849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in shares of NIKE in the first quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new position in shares of NIKE in the 2nd quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC increased its stake in NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares in the last quarter. Saudi Central Bank bought a new stake in NIKE during the 1st quarter worth approximately $30,000. Finally, Matrix Trust Co raised its holdings in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Stifel Nicolaus set a $68.00 price target on NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Truist Financial reiterated a “buy” rating and issued a $85.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. Three investment 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’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

NIKE Price Performance

NYSE:NKE opened at $64.22 on Thursday. The stock has a market capitalization of $94.93 billion, a PE ratio of 32.93, a P/E/G ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The firm has a fifty day simple moving average of $68.88 and a 200 day simple moving average of $68.62. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

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. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Jorgen Vig Knudstorp bought 16,150 shares of NIKE stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

NIKE 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.