Norris Perne & French LLP MI Has $9.42 Million Position in NIKE, Inc. (NYSE:NKE)

Norris Perne & French LLP MI lowered its holdings in NIKE, Inc. (NYSE:NKE) by 0.7% during the third quarter, HoldingsChannel.com reports. The fund owned 106,535 shares of the footwear maker’s stock after selling 700 shares during the period. Norris Perne & French LLP MI’s holdings in NIKE were worth $9,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kovack Advisors Inc. boosted its stake in NIKE by 24.5% in the 1st quarter. Kovack Advisors Inc. now owns 2,469 shares of the footwear maker’s stock valued at $232,000 after buying an additional 486 shares in the last quarter. FORVIS Wealth Advisors LLC grew its holdings in shares of NIKE by 8.7% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 7,951 shares of the footwear maker’s stock worth $747,000 after purchasing an additional 636 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in shares of NIKE by 14.5% during the 1st quarter. J.W. Cole Advisors Inc. now owns 10,628 shares of the footwear maker’s stock worth $992,000 after purchasing an additional 1,342 shares in the last quarter. Private Advisor Group LLC lifted its holdings in NIKE by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 62,372 shares of the footwear maker’s stock valued at $5,862,000 after purchasing an additional 2,196 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in NIKE by 18.8% in the first quarter. Avior Wealth Management LLC now owns 31,406 shares of the footwear maker’s stock valued at $2,952,000 after buying an additional 4,978 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of research analyst reports. Sanford C. Bernstein cut their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and boosted their target price for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. UBS Group raised their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upped their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Robert W. Baird upped their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Trading Up 0.9 %

Shares of NKE stock opened at $77.13 on Friday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a market capitalization of $115.65 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.86 and a beta of 1.02. The firm has a 50 day moving average price of $82.24 and a two-hundred day moving average price of $84.61. 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 (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. As a group, analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current year.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The shares were 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 in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.