Janney Montgomery Scott LLC Sells 46,586 Shares of NIKE, Inc. (NYSE:NKE)

Janney Montgomery Scott LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 21.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,247 shares of the footwear maker’s stock after selling 46,586 shares during the period. Janney Montgomery Scott LLC’s holdings in NIKE were worth $15,050,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Private Wealth Partners LLC bought a new position in NIKE during the 3rd quarter worth about $393,000. Conning Inc. grew its holdings in shares of NIKE by 21.6% during the third quarter. Conning Inc. now owns 63,033 shares of the footwear maker’s stock worth $5,572,000 after buying an additional 11,195 shares in the last quarter. First Interstate Bank grew its holdings in shares of NIKE by 0.4% during the third quarter. First Interstate Bank now owns 53,984 shares of the footwear maker’s stock worth $4,772,000 after buying an additional 211 shares in the last quarter. Fullcircle Wealth LLC raised its position in NIKE by 2.1% in the 3rd quarter. Fullcircle Wealth LLC now owns 8,833 shares of the footwear maker’s stock valued at $781,000 after buying an additional 181 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in NIKE by 10.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,586 shares of the footwear maker’s stock valued at $582,000 after acquiring an additional 614 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NKE shares. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Wells Fargo & Company lifted their price target on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Telsey Advisory Group reduced their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Finally, Bank of America dropped their target price on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.56.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Up 1.0 %

NKE opened at $77.99 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a fifty day moving average of $81.83 and a 200-day moving average of $84.13. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a market capitalization of $116.94 billion, a P/E ratio of 22.35, a P/E/G ratio of 1.90 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.

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.