M&G PLC Grows Position in NIKE, Inc. $NKE

M&G PLC raised its position in NIKE, Inc. (NYSE:NKE) by 3.8% in the second quarter, Holdings Channel reports. The fund owned 64,012 shares of the footwear maker’s stock after buying an additional 2,365 shares during the period. M&G PLC’s holdings in NIKE were worth $4,545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Forsta AP Fonden grew its stake in shares of NIKE by 5.5% during the second quarter. Forsta AP Fonden now owns 282,100 shares of the footwear maker’s stock worth $20,040,000 after purchasing an additional 14,600 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in NIKE by 8.1% in the second quarter. SBI Securities Co. Ltd. now owns 26,518 shares of the footwear maker’s stock valued at $1,884,000 after buying an additional 1,979 shares in the last quarter. National Pension Service lifted its holdings in NIKE by 10.5% during the 2nd quarter. National Pension Service now owns 3,110,578 shares of the footwear maker’s stock worth $220,975,000 after buying an additional 296,529 shares during the last quarter. Advyzon Investment Management LLC lifted its holdings in NIKE by 9.6% during the 2nd quarter. Advyzon Investment Management LLC now owns 4,190 shares of the footwear maker’s stock worth $298,000 after buying an additional 367 shares during the last quarter. Finally, IMA Advisory Services Inc. boosted its position in shares of NIKE by 12.2% during the 2nd quarter. IMA Advisory Services Inc. now owns 27,000 shares of the footwear maker’s stock worth $1,929,000 after acquiring an additional 2,939 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 2.9%

NKE opened at $66.08 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The business’s 50 day moving average is $68.69 and its two-hundred day moving average is $68.61. The firm has a market cap of $97.68 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NKE shares. Telsey Advisory Group reissued a “market perform” rating and set a $75.00 target price on shares of NIKE in a research report on Wednesday, October 1st. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and upped their price target for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. KeyCorp set a $90.00 price target on shares of NIKE and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $82.72.

Insider Buying and Selling at NIKE

In other news, 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 sale, the executive vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average cost of $62.09 per share, for a total transaction 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. 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. 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.