Geode Capital Management LLC Sells 212,394 Shares of NIKE, Inc. $NKE

Geode Capital Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 25,864,771 shares of the footwear maker’s stock after selling 212,394 shares during the period. Geode Capital Management LLC’s holdings in NIKE were worth $1,829,168,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mascoma Wealth Management LLC bought a new stake in shares of NIKE during the 2nd quarter valued at $26,000. Stone House Investment Management LLC bought a new stake in NIKE in the first quarter valued at about $25,000. Halbert Hargrove Global Advisors LLC lifted its stake in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after buying an additional 362 shares during the period. Matrix Trust Co boosted its holdings in NIKE by 53.1% during the second 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 last quarter. Finally, Saudi Central Bank bought a new stake in shares of NIKE in the 1st quarter valued at about $30,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on NKE shares. UBS Group set a $71.00 target price on NIKE and gave the company a “neutral” rating in a research note on Friday, September 19th. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. BTIG Research started coverage on NIKE in a research note on Tuesday, October 14th. They set a “buy” rating and a $100.00 target price for the company. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and raised their price target for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. Finally, Stifel Nicolaus set a $68.00 price objective on shares of NIKE and gave the company a “hold” rating in a research report on Wednesday, October 1st. 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.72.

Insider Buying and Selling

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

NIKE Stock Up 1.7%

NKE opened at $64.22 on Thursday. The stock has a fifty day moving average of $68.88 and a 200-day moving average of $68.62. The company has a market capitalization of $94.93 billion, a P/E ratio of 32.93, 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 debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $0.70 earnings per share. NIKE’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current 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.