NIKE, Inc. (NYSE:NKE) Shares Sold by Peak Asset Management LLC

Peak Asset Management LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 8.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,763 shares of the footwear maker’s stock after selling 500 shares during the quarter. Peak Asset Management LLC’s holdings in NIKE were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

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

NIKE Stock Down 0.2 %

NKE opened at $76.51 on Thursday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The business has a 50 day moving average of $81.16 and a 200-day moving average of $83.49. The stock has a market capitalization of $114.72 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.86 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.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. 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 company earned $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NKE. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Telsey Advisory Group cut 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. Barclays dropped their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.48.

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.