Cordatus Wealth Management LLC Boosts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Cordatus Wealth Management LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 19.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 41,510 shares of the footwear maker’s stock after purchasing an additional 6,778 shares during the period. NIKE accounts for about 1.3% of Cordatus Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. Cordatus Wealth Management LLC’s holdings in NIKE were worth $3,669,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Transcendent Capital Group LLC grew 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 valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC grew its holdings in shares of NIKE by 52.6% in 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 increased its position in shares of NIKE by 272.5% during the second 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 during the period. Triad Wealth Partners LLC bought a new stake in NIKE during the 2nd quarter valued at $44,000. Finally, MFA Wealth Advisors LLC bought a new position in NIKE during the 2nd quarter worth about $46,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NKE shares. Deutsche Bank Aktiengesellschaft reduced 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. Bank of America cut their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. TD Cowen boosted their price objective on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note 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 research report on Wednesday, September 25th. Finally, UBS Group raised their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Trading Down 0.9 %

Shares of NIKE stock traded down $0.67 on Thursday, hitting $75.78. 4,455,238 shares of the company’s stock traded hands, compared to its average volume of 11,545,858. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm’s 50-day moving average price is $82.37 and its two-hundred day moving average price is $84.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $113.62 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.90 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company 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%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.76 EPS for the current fiscal 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.