Ceredex Value Advisors LLC Sells 79,521 Shares of NIKE, Inc. (NYSE:NKE)

Ceredex Value Advisors LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 14.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 457,606 shares of the footwear maker’s stock after selling 79,521 shares during the period. Ceredex Value Advisors LLC’s holdings in NIKE were worth $40,692,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Transcendent Capital Group LLC boosted its holdings in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in NIKE by 272.5% in the 2nd 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 purchased a new stake in NIKE in the 2nd quarter valued at about $44,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of NIKE during the 2nd quarter worth approximately $46,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE 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 transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company upped their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Piper Sandler restated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Royal Bank of Canada decreased their target price on NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley boosted their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, UBS Group raised their price objective on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Performance

NYSE:NKE opened at $78.06 on Friday. 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 twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market cap of $117.04 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 1.86 and a beta of 1.02. The firm’s fifty day simple moving average is $82.12 and its 200 day simple moving average is $84.51.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 EPS. As a group, research analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

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.