NIKE, Inc. (NYSE:NKE) Shares Sold by Patron Partners LLC

Patron Partners LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,028 shares of the footwear maker’s stock after selling 2,262 shares during the period. NIKE comprises 0.8% of Patron Partners LLC’s holdings, making the stock its 26th biggest position. Patron Partners LLC’s holdings in NIKE were worth $1,417,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NKE. Transcendent Capital Group LLC grew its position in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the period. VitalStone Financial LLC boosted its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of NIKE during the 2nd quarter worth approximately $44,000. Finally, Riverview Trust Co acquired a new position in shares of NIKE during the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NKE shares. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Telsey Advisory Group decreased their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Robert W. Baird raised their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Bank of America reduced their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus cut their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.48.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Trading Up 0.9 %

NYSE:NKE opened at $76.60 on Tuesday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a market cap of $114.85 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $81.25 and a 200 day moving average price of $83.61.

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