NIKE, Inc. $NKE Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 757,620 shares of the footwear maker’s stock after selling 52,633 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.05% of NIKE worth $53,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after buying an additional 20,688,013 shares during the period. Wellington Management Group LLP raised its position in shares of NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after buying an additional 9,043,180 shares during the period. Jennison Associates LLC purchased a new stake in NIKE during the first quarter valued at about $509,051,000. Nuveen LLC purchased a new position in shares of NIKE in the 1st quarter worth about $502,285,000. Finally, Vanguard Group Inc. grew its holdings in shares of NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NKE. KeyCorp set a $90.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Stifel Nicolaus set a $68.00 price target on NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group set a $85.00 price objective on shares of NIKE and gave the company a “buy” rating in a research note on Thursday, September 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.21.

NIKE Price Performance

Shares of NKE stock opened at $64.22 on Thursday. The firm has a market cap 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. The firm has a fifty day moving average of $68.88 and a two-hundred day moving average of $68.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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 return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same period last year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In related news, Director Jorgen Vig Knudstorp bought 16,150 shares of the stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the completion of the acquisition, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by corporate 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.