Arjuna Capital Sells 7,630 Shares of NIKE, Inc. (NYSE:NKE)

Arjuna Capital lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 72.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,908 shares of the footwear maker’s stock after selling 7,630 shares during the period. Arjuna Capital’s holdings in NIKE were worth $257,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC boosted 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 during the period. VitalStone Financial LLC raised its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in NIKE during 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. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NKE traded up $0.12 during mid-day trading on Wednesday, hitting $76.78. 969,091 shares of the company traded hands, compared to its average volume of 11,473,295. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a 50-day moving average price of $81.16 and a two-hundred day moving average price of $83.49. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a market cap of $115.12 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS 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 analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.94 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on NKE shares. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Stifel Nicolaus lowered their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Jefferies Financial Group boosted their price objective on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. TD Cowen boosted their price objective on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird upped their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price 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.