Platform Technology Partners Increases Stake in NIKE, Inc. (NYSE:NKE)

Platform Technology Partners lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,334 shares of the footwear maker’s stock after buying an additional 788 shares during the quarter. Platform Technology Partners’ holdings in NIKE were worth $1,179,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NKE. Longview Partners Guernsey LTD acquired a new position in shares of NIKE during the 1st quarter worth about $533,533,000. Capital World Investors boosted its holdings in NIKE by 612.2% in the first 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 in the last quarter. PineStone Asset Management Inc. increased its stake in NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after purchasing an additional 1,576,049 shares during the last quarter. Renaissance Technologies LLC raised its holdings in NIKE by 351.7% during the second 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 in the last quarter. Finally, Swedbank AB purchased a new stake in shares of NIKE during the 1st quarter worth approximately $93,357,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 0.9 %

Shares of NKE opened at $76.60 on Tuesday. NIKE, Inc. has a twelve month low of $70.75 and a twelve 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 firm has a market capitalization of $114.85 billion, a P/E ratio of 21.95, a PEG ratio of 1.84 and a beta of 1.03. The firm’s 50-day moving average is $81.25 and its two-hundred day moving average is $83.61.

NIKE (NYSE:NKE) last released its quarterly 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 business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. On average, research analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. UBS Group boosted their target price on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. reduced their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Finally, Telsey Advisory Group lowered their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $96.48.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the 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 directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

NIKE 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.