Great Diamond Partners LLC Takes Position in NIKE, Inc. (NYSE:NKE)

Great Diamond Partners LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the third quarter, HoldingsChannel reports. The firm bought 2,510 shares of the footwear maker’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avitas Wealth Management LLC grew its holdings in shares of NIKE by 10.3% during the 3rd quarter. Avitas Wealth Management LLC now owns 6,218 shares of the footwear maker’s stock worth $550,000 after purchasing an additional 580 shares in the last quarter. Saybrook Capital NC boosted its stake in NIKE by 5.3% during the third quarter. Saybrook Capital NC now owns 170,576 shares of the footwear maker’s stock worth $15,079,000 after buying an additional 8,560 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in NIKE by 44.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after buying an additional 60,008 shares during the period. Integrated Advisors Network LLC raised its stake in shares of NIKE by 85.4% in the 3rd quarter. Integrated Advisors Network LLC now owns 18,607 shares of the footwear maker’s stock valued at $1,645,000 after buying an additional 8,572 shares in the last quarter. Finally, MBA Advisors LLC bought a new position in shares of NIKE during the 3rd quarter worth about $228,000. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly 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 SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Barclays decreased their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Royal Bank of Canada reduced their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Evercore ISI lowered their target price 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. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Down 2.5 %

NYSE:NKE opened at $76.43 on Thursday. The stock’s fifty day simple moving average is $82.37 and its 200-day simple moving average is $84.67. The firm has a market capitalization of $114.60 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.90 and a beta of 1.02. 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 (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. Equities research analysts expect that NIKE, Inc. will post 2.76 earnings per share for the current year.

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.