ING Groep NV Takes $29.63 Million Position in NIKE, Inc. (NYSE:NKE)

ING Groep NV acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, Holdings Channel reports. The institutional investor acquired 335,163 shares of the footwear maker’s stock, valued at approximately $29,628,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Transcendent Capital Group LLC raised its holdings in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC increased its position in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its stake in NIKE by 272.5% during the second 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 last quarter. Triad Wealth Partners LLC acquired a new position in NIKE in the second quarter valued at $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in NIKE during the second quarter valued at $46,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.32 during midday trading on Thursday, reaching $76.84. 1,966,448 shares of the company traded hands, compared to its average volume of 11,456,821. The firm’s fifty day moving average price is $81.07 and its two-hundred day moving average price is $83.44. The firm has a market capitalization of $115.21 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. 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, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating 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 business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NKE shares. Sanford C. Bernstein lowered their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Royal Bank of Canada lowered their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Piper Sandler restated a “neutral” rating and set a $80.00 price target on shares of NIKE in a report on Friday, September 20th. UBS Group lifted their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen increased their target price on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

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.