NIKE, Inc. (NYSE:NKE) Shares Sold by Realta Investment Advisors

Realta Investment Advisors trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 40.1% in the third quarter, HoldingsChannel.com reports. The firm owned 2,521 shares of the footwear maker’s stock after selling 1,687 shares during the quarter. Realta Investment Advisors’ holdings in NIKE were worth $206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First Interstate Bank lifted its stake in NIKE by 0.4% in the third quarter. First Interstate Bank now owns 53,984 shares of the footwear maker’s stock valued at $4,772,000 after buying an additional 211 shares during the last quarter. Fullcircle Wealth LLC lifted its stake in NIKE by 2.1% in the third quarter. Fullcircle Wealth LLC now owns 8,833 shares of the footwear maker’s stock valued at $781,000 after buying an additional 181 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in NIKE by 10.3% in the third quarter. Chicago Partners Investment Group LLC now owns 6,586 shares of the footwear maker’s stock valued at $582,000 after buying an additional 614 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of NIKE by 13.9% during the third quarter. Farther Finance Advisors LLC now owns 33,974 shares of the footwear maker’s stock worth $3,004,000 after purchasing an additional 4,134 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. raised its stake in shares of NIKE by 3.4% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 10,530 shares of the footwear maker’s stock worth $935,000 after purchasing an additional 350 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $78.06 on Friday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The business has a 50 day moving average price of $82.12 and a two-hundred day moving average price of $84.45. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $117.04 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.87 and a beta of 1.03.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on NKE. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. cut their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley upped their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.