PDS Planning Inc Trims Stock Holdings in NIKE, Inc. (NYSE:NKE)

PDS Planning Inc reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 25.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,404 shares of the footwear maker’s stock after selling 1,153 shares during the period. PDS Planning Inc’s holdings in NIKE were worth $301,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NKE. Vanguard Group Inc. boosted its position in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the period. Legal & General Group Plc boosted its stake in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after acquiring an additional 571,544 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of 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 worth $454,151,000 after purchasing an additional 52,500 shares in the last quarter. Longview Partners Guernsey LTD bought a new stake in NIKE during the 1st quarter valued at approximately $533,533,000. Finally, Capital World Investors lifted its holdings in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. Evercore ISI cut their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Guggenheim reduced their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Sanford C. Bernstein decreased their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. 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. Finally, Stifel Nicolaus decreased their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

NIKE Trading Down 1.1 %

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

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the firm posted $0.94 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. On average, research 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.