Tevis Investment Management Buys 1,010 Shares of NIKE, Inc. (NYSE:NKE)

Tevis Investment Management lifted its stake in NIKE, Inc. (NYSE:NKE) by 9.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,784 shares of the footwear maker’s stock after purchasing an additional 1,010 shares during the quarter. Tevis Investment Management’s holdings in NIKE were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NKE. Transcendent Capital Group LLC lifted its stake in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC lifted its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of NIKE in the 2nd quarter worth $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of NIKE in the second quarter worth $46,000. Institutional investors own 64.25% of the company’s stock.

Insider Activity

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 value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

NIKE Stock Down 2.5 %

NYSE NKE opened at $76.43 on Thursday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market cap of $114.60 billion, a PE ratio of 21.90, a P/E/G ratio of 1.90 and a beta of 1.02. The stock’s 50 day moving average is $82.37 and its 200 day moving average is $84.67.

NIKE (NYSE:NKE) last issued 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 during the quarter, compared to analyst estimates 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 business earned $0.94 earnings per share. Research analysts predict that NIKE, Inc. will post 2.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Evercore ISI dropped their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Finally, Stifel Nicolaus decreased their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.56.

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.