Hemenway Trust Co LLC Trims Position in NIKE, Inc. (NYSE:NKE)

Hemenway Trust Co LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 93.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,187 shares of the footwear maker’s stock after selling 44,326 shares during the period. Hemenway Trust Co LLC’s holdings in NIKE were worth $282,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Transcendent Capital Group LLC grew its stake in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC raised its position in NIKE by 52.6% during 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 in the last quarter. Bruce G. Allen Investments LLC lifted its holdings 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 worth $39,000 after buying an additional 376 shares during the period. Triad Wealth Partners LLC bought a new position in shares of NIKE during the 2nd quarter worth $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of NIKE during the second quarter valued at $46,000. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on NKE. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. UBS Group upped their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Robert W. Baird lifted their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Finally, Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.48.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the 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 sale, the chairman now owns 1,031,226 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NKE traded up $0.21 on Tuesday, reaching $76.81. 747,669 shares of the stock were exchanged, compared to its average volume of 11,483,049. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company’s 50-day moving average price is $81.25 and its 200 day moving average price is $83.61. The firm has a market capitalization of $115.17 billion, a PE ratio of 21.95, a PEG ratio of 1.84 and a beta of 1.03. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $11.64 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue was down 10.4% compared to the same quarter last year. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

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.