NIKE, Inc. (NYSE:NKE) Shares Sold by Donaldson Capital Management LLC

Donaldson Capital Management LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,634 shares of the footwear maker’s stock after selling 1,185 shares during the period. Donaldson Capital Management LLC’s holdings in NIKE were worth $2,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Transcendent Capital Group LLC lifted its position in NIKE by 97.6% during 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 period. VitalStone Financial LLC increased its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its position in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in NIKE during the 2nd quarter valued at approximately $44,000. Finally, Riverview Trust Co purchased a new stake in shares of NIKE in the 3rd quarter valued at $52,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 1.2 %

NKE stock opened at $78.06 on Monday. 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 firm has a 50-day moving average of $82.12 and a two-hundred day moving average of $84.37. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market cap of $117.04 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.87 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 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 firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NKE. Piper Sandler restated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Bank of America dropped their target price on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their price target on NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. 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, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

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.