NIKE, Inc. (NYSE:NKE) Shares Acquired by Western Pacific Wealth Management LP

Western Pacific Wealth Management LP boosted its stake in NIKE, Inc. (NYSE:NKE) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 609,238 shares of the footwear maker’s stock after buying an additional 2,012 shares during the quarter. NIKE makes up about 35.8% of Western Pacific Wealth Management LP’s investment portfolio, making the stock its largest position. Western Pacific Wealth Management LP’s holdings in NIKE were worth $53,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC increased its stake in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC raised its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC lifted 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 worth $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in shares of NIKE during the second quarter valued at approximately $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE in the second quarter valued at approximately $46,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Up 0.8 %

Shares of NKE stock opened at $75.92 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock has a market cap of $113.83 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.88 and a beta of 1.03. The firm’s 50-day moving average is $81.68 and its 200-day moving average is $84.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during 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 business’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on NKE shares. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Bank of America dropped their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.48.

Insiders Place Their Bets

In other 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This 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 can be accessed through this link. Company insiders own 1.10% of the company’s stock.

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.