AIA Group Ltd Purchases 37,780 Shares of NIKE, Inc. (NYSE:NKE)

AIA Group Ltd raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 247.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,077 shares of the footwear maker’s stock after acquiring an additional 37,780 shares during the quarter. AIA Group Ltd’s holdings in NIKE were worth $4,692,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NKE. Longview Partners Guernsey LTD bought a new stake in NIKE during the 1st quarter valued at approximately $533,533,000. Capital World Investors raised its position in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares during the last quarter. PineStone Asset Management Inc. lifted its holdings in shares of NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after buying an additional 1,576,049 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after acquiring an additional 1,550,611 shares during the last quarter. Finally, Swedbank AB purchased a new position in NIKE during the first quarter valued at $93,357,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Bank of America cut their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Stifel Nicolaus decreased their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Stock Up 0.8 %

Shares of NYSE NKE opened at $75.92 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a market capitalization of $113.83 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.88 and a beta of 1.03. The stock has a 50 day moving average price of $81.68 and a 200 day moving average price of $84.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current year.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by 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.