WT Asset Management Ltd Invests $1.46 Million in NIKE, Inc. (NYSE:NKE)

WT Asset Management Ltd purchased a new position in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 16,500 shares of the footwear maker’s stock, valued at approximately $1,459,000. NIKE comprises approximately 0.3% of WT Asset Management Ltd’s portfolio, making the stock its 19th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC increased its stake in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of NIKE during the 2nd quarter worth approximately $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of NIKE during the 2nd quarter valued at approximately $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NKE. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Royal Bank of Canada decreased their price target on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 2nd. Finally, Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and increased their price objective for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Stock Performance

NKE stock traded up $0.61 during trading on Friday, hitting $77.74. The company had a trading volume of 2,712,826 shares, compared to its average volume of 11,551,726. The firm has a 50-day moving average price of $82.24 and a 200-day moving average price of $84.61. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm has a market cap of $116.56 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.86 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share 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 for the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the firm posted $0.94 EPS. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.74 earnings per share 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.