Wealthstream Advisors Inc. Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Wealthstream Advisors Inc. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 9.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,435 shares of the footwear maker’s stock after selling 254 shares during the quarter. Wealthstream Advisors Inc.’s holdings in NIKE were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Longview Partners Guernsey LTD purchased a new position in NIKE in the 1st quarter valued at approximately $533,533,000. Capital World Investors raised its stake in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares during the period. PineStone Asset Management Inc. lifted its holdings in NIKE by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after purchasing an additional 1,576,049 shares in the last quarter. Renaissance Technologies LLC boosted its stake in NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after purchasing an additional 1,550,611 shares during the period. Finally, KBC Group NV grew its holdings in NIKE by 145.2% during the 3rd quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock valued at $186,675,000 after buying an additional 1,250,380 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $76.51 on Thursday. The firm has a market capitalization of $114.72 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.86 and a beta of 1.03. The stock has a fifty day moving average of $81.07 and a 200 day moving average of $83.44. 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.

NIKE (NYSE:NKE) last posted its earnings results 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. The firm had revenue of $11.59 billion for 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 business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 EPS. As a group, research analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NKE. Jefferies Financial Group raised their price objective on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Barclays lowered their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. TD Cowen boosted their price objective on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their target price for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average 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.