Vista Capital Partners Inc. Trims Holdings in NIKE, Inc. (NYSE:NKE)

Vista Capital Partners Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,812 shares of the footwear maker’s stock after selling 834 shares during the quarter. NIKE makes up approximately 0.2% of Vista Capital Partners Inc.’s investment portfolio, making the stock its 21st largest position. Vista Capital Partners Inc.’s holdings in NIKE were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NKE. Cordatus Wealth Management LLC lifted its stake in NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after acquiring an additional 6,778 shares during the period. Bristlecone Advisors LLC raised its stake in NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after buying an additional 11,665 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in NIKE by 44.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after buying an additional 60,008 shares during the period. WoodTrust Financial Corp boosted its position in NIKE by 19.9% during the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after acquiring an additional 16,303 shares in the last quarter. Finally, Heritage Investors Management Corp increased its holdings in shares of NIKE by 2.6% in the 3rd quarter. Heritage Investors Management Corp now owns 352,199 shares of the footwear maker’s stock valued at $31,134,000 after acquiring an additional 9,068 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NKE. TD Cowen raised their price objective on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Barclays reduced their target price 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. Sanford C. Bernstein dropped their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Finally, Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Fourteen equities research 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, NIKE has an average rating of “Moderate Buy” and a consensus price target of $96.48.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated 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 of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $75.92 on Friday. The stock has a market cap of $113.83 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a 50 day moving average of $81.68 and a two-hundred day moving average of $84.07. 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 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. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. On average, research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Company 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.