Patron Partners LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

Patron Partners LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 12.4% in the third quarter, HoldingsChannel.com reports. The firm owned 16,028 shares of the footwear maker’s stock after selling 2,262 shares during the quarter. NIKE accounts for 0.8% of Patron Partners LLC’s portfolio, making the stock its 26th largest position. Patron Partners LLC’s holdings in NIKE were worth $1,417,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cordatus Wealth Management LLC increased its stake in shares of NIKE by 19.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC raised its holdings in shares of NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares during the last quarter. WoodTrust Financial Corp lifted its position in shares of NIKE by 19.9% in the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after acquiring an additional 16,303 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of NIKE by 44.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after acquiring an additional 60,008 shares during the last quarter. Finally, Heritage Investors Management Corp increased its position in NIKE by 2.6% during the 3rd quarter. Heritage Investors Management Corp now owns 352,199 shares of the footwear maker’s stock worth $31,134,000 after purchasing an additional 9,068 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was 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 the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $76.60 on Tuesday. The business’s fifty day moving average price is $81.25 and its 200 day moving average price is $83.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The stock has a market capitalization of $114.85 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.84 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 (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The company 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 firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the firm earned $0.94 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NKE. UBS Group raised their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reduced 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. Telsey Advisory Group lowered their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Barclays cut their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $96.48.

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.