Plato Investment Management Ltd Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Plato Investment Management Ltd trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.1% in the 3rd quarter, Holdings Channel reports. The firm owned 28,260 shares of the footwear maker’s stock after selling 5,843 shares during the quarter. Plato Investment Management Ltd’s holdings in NIKE were worth $2,496,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Garrison Point Advisors LLC grew its stake in NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares in the last quarter. Stephens Consulting LLC increased its holdings in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC lifted its holdings in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after buying an additional 130 shares during the period. Pitcairn Co. grew its position in shares of NIKE by 0.5% during the 1st quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock worth $2,732,000 after buying an additional 132 shares in the last quarter. Finally, Chapin Davis Inc. increased its stake in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after buying an additional 133 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE NKE opened at $76.51 on Thursday. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $114.72 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.86 and a beta of 1.03. The business’s 50 day moving average price is $81.16 and its 200 day moving average price is $83.49.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping 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 quarter in the prior year, the business earned $0.94 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on NKE. Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Sanford C. Bernstein dropped their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. TD Cowen lifted their price objective on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $96.48.

About NIKE

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.