NIKE, Inc. $NKE Stock Holdings Lifted by Moors & Cabot Inc.

Moors & Cabot Inc. raised its position in NIKE, Inc. (NYSE:NKE) by 63.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,206 shares of the footwear maker’s stock after purchasing an additional 16,041 shares during the quarter. Moors & Cabot Inc.’s holdings in NIKE were worth $2,927,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC bought a new stake in NIKE in the second quarter worth approximately $26,000. Stone House Investment Management LLC bought a new stake in NIKE in the first quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC grew its position in NIKE by 952.6% in 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 in the last quarter. Matrix Trust Co grew its position in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares in the last quarter. Finally, Saudi Central Bank bought a new stake in NIKE in the first quarter worth approximately $30,000. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on NKE shares. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Piper Sandler set a $84.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Finally, Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Trading Up 1.5%

Shares of NKE stock opened at $62.14 on Thursday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The stock has a market cap of $91.86 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 2.41 and a beta of 1.29. 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 firm has a fifty day moving average of $70.29 and a 200-day moving average of $68.46.

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, beating 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 company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the company posted $0.70 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of NIKE 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 transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

NIKE Company 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.