Quilter Plc Cuts Holdings in NIKE, Inc. $NKE

Quilter Plc lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 69.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,954 shares of the footwear maker’s stock after selling 249,115 shares during the period. Quilter Plc’s holdings in NIKE were worth $7,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Soltis Investment Advisors LLC raised its stake in shares of NIKE by 238.8% during the 2nd quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock worth $10,042,000 after acquiring an additional 99,638 shares in the last quarter. Banco Santander S.A. grew its holdings in NIKE by 28.3% in the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after purchasing an additional 48,764 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of NIKE during the first quarter worth $25,963,000. BROOKFIELD Corp ON lifted its holdings in shares of NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after purchasing an additional 175,000 shares during the last quarter. Finally, Cadence Bank boosted its position in shares of NIKE by 10.0% in the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after purchasing an additional 7,574 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the transaction, the chairman owned 647,615 shares in the company, valued at $41,965,452. The trade was a 11.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of NIKE stock in a transaction that occurred on Friday, November 7th. The stock was acquired 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 in the company, valued at $1,327,980.92. This trade represents a 308.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NKE. Barclays set a $70.00 target price on NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. JPMorgan Chase & Co. cut their price target on shares of NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $82.24.

NIKE Price Performance

NYSE:NKE opened at $62.79 on Thursday. NIKE, Inc. has a one year low of $52.28 and a one year 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. The firm has a market cap of $92.81 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.41 and a beta of 1.29. The firm’s fifty day moving average is $67.82 and its two-hundred day moving average is $68.85.

NIKE (NYSE:NKE) last announced its quarterly earnings results 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 company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. Research analysts expect that NIKE, Inc. will post 2.05 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.