Amalgamated Bank Sells 6,688 Shares of NIKE, Inc. (NYSE:NKE)

Amalgamated Bank cut its position in shares of NIKE, Inc. (NYSE:NKE) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247,456 shares of the footwear maker’s stock after selling 6,688 shares during the quarter. Amalgamated Bank’s holdings in NIKE were worth $21,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares during the last quarter. Legal & General Group Plc increased its position in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in NIKE by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after acquiring an additional 52,500 shares during the last quarter. Longview Partners Guernsey LTD purchased a new stake in NIKE during the first quarter valued at $533,533,000. Finally, Capital World Investors increased its position in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Sanford C. Bernstein cut their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Barclays dropped their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and increased their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Down 1.1 %

NKE stock opened at $77.19 on Tuesday. The firm has a 50-day moving average price of $81.98 and a 200-day moving average price of $84.24. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $115.74 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03.

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

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.