Culbertson A N & Co. Inc. Takes $201,000 Position in NIKE, Inc. $NKE

Culbertson A N & Co. Inc. bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,829 shares of the footwear maker’s stock, valued at approximately $201,000.

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

NIKE Stock Performance

NYSE:NKE opened at $62.92 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock has a market capitalization of $93.01 billion, a PE ratio of 32.27, 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 company has a fifty day moving average of $68.27 and a two-hundred day moving average of $68.86.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. UBS Group set a $71.00 price objective on NIKE and gave the stock a “neutral” rating in a research report on Friday, September 19th. Piper Sandler set a $84.00 target price on shares of NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. BTIG Research initiated coverage on shares of NIKE in a report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price target on the stock. Wells Fargo & Company raised shares of NIKE from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $75.00 in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $82.24.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the transaction, the chairman owned 647,615 shares in the company, valued at $41,965,452. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the purchase, the director directly owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. The trade was a 308.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.80% of the stock is currently owned by insiders.

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.