Rossmore Private Capital Purchases 2,425 Shares of NIKE, Inc. (NYSE:NKE)

Rossmore Private Capital raised its holdings in NIKE, Inc. (NYSE:NKE) by 9.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,345 shares of the footwear maker’s stock after buying an additional 2,425 shares during the period. Rossmore Private Capital’s holdings in NIKE were worth $2,564,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Transcendent Capital Group LLC boosted its stake in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares during the period. VitalStone Financial LLC lifted its holdings in shares of NIKE by 52.6% during the 3rd 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 period. Bruce G. Allen Investments LLC boosted its position in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new position in NIKE in the second quarter valued at approximately $44,000. Finally, Riverview Trust Co acquired a new position in NIKE during the third quarter valued at approximately $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Bank of America decreased their target price on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Telsey Advisory Group dropped their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Jefferies Financial Group lifted their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Barclays dropped their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.48.

NIKE Price Performance

Shares of NKE opened at $76.67 on Wednesday. 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, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The business’s 50 day moving average price is $81.16 and its two-hundred day moving average price is $83.49. The firm has a market cap of $114.96 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last announced its quarterly 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 business had revenue of $11.59 billion for 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 quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 2.74 EPS 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.