56,993 Shares in NIKE, Inc. (NYSE:NKE) Bought by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 56,993 shares of the footwear maker’s stock, valued at approximately $5,038,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Longview Partners Guernsey LTD bought a new stake in NIKE in the first quarter worth about $533,533,000. Capital World Investors lifted its stake in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. Jennison Associates LLC boosted its holdings in NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares during the period. PineStone Asset Management Inc. grew its position in NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after acquiring an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in NIKE by 351.7% in 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 during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by insiders.

NIKE Stock Up 1.2 %

NIKE stock opened at $78.06 on Friday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The business has a fifty day moving average price of $82.12 and a 200-day moving average price of $84.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $117.04 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.87 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its quarterly earnings results 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 business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the company earned $0.94 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group boosted 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. Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. decreased 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. Finally, Stifel Nicolaus dropped their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock 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 company. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $96.56.

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.