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

Los Angeles Capital Management LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 92.8% in the third quarter, HoldingsChannel reports. The firm owned 103,981 shares of the footwear maker’s stock after selling 1,344,258 shares during the quarter. Los Angeles Capital Management LLC’s holdings in NIKE were worth $9,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D boosted its position in NIKE by 0.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 448,925 shares of the footwear maker’s stock valued at $39,685,000 after purchasing an additional 2,109 shares during the period. River Global Investors LLP boosted its position in NIKE by 4.6% during the 3rd quarter. River Global Investors LLP now owns 16,900 shares of the footwear maker’s stock worth $1,493,000 after acquiring an additional 737 shares during the period. Mayflower Financial Advisors LLC boosted its position in NIKE by 6.0% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 9,636 shares of the footwear maker’s stock worth $852,000 after acquiring an additional 545 shares during the period. Axxcess Wealth Management LLC boosted its position in NIKE by 2.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 6,355 shares of the footwear maker’s stock worth $562,000 after acquiring an additional 163 shares during the period. Finally, Legacy Capital Wealth Partners LLC boosted its position in NIKE by 18.1% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 5,162 shares of the footwear maker’s stock worth $456,000 after acquiring an additional 790 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

NIKE Stock Performance

NKE opened at $76.60 on Tuesday. The company 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 stock has a 50-day moving average of $81.39 and a 200-day moving average of $83.73. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NKE has been the subject of a number of analyst reports. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Barclays reduced their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. 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. Guggenheim dropped their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.