Gulf International Bank UK Ltd decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 25.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,797 shares of the footwear maker's stock after selling 31,953 shares during the quarter. Gulf International Bank UK Ltd's holdings in NIKE were worth $8,291,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Transcendent Capital Group LLC raised its position in shares of NIKE by 97.6% in 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 grew its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock valued at $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker's stock valued at $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new position in NIKE in the 2nd quarter valued at approximately $44,000. Finally, Riverview Trust Co purchased a new stake in NIKE during the 3rd quarter valued at $52,000. 64.25% of the stock is currently owned by institutional investors.
A number of research analysts have recently issued reports on NKE shares. Daiwa America downgraded NIKE from a "moderate buy" rating to a "hold" rating in a report on Wednesday, September 11th. Telsey Advisory Group dropped their price target on shares of NIKE from $100.00 to $96.00 and set an "outperform" rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Wednesday, October 2nd. Guggenheim lowered their price objective on shares of NIKE from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, October 2nd. Finally, Robert W. Baird boosted their target price on shares of NIKE from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.56.
View Our Latest Stock Analysis on NIKE
In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm's 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 completion of the sale, the chairman now owns 1,031,226 shares of the company's stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.
NIKE stock opened at $77.19 on Tuesday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. 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's fifty day moving average is $81.98 and its 200 day moving average is $84.24. The company has a market cap of $115.74 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.90 and a beta of 1.03.
NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share 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 for the quarter, compared to analysts' expectations of $11.64 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm's revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.
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.
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