WCM Investment Management LLC Sells 9,601 Shares of NIKE, Inc. (NYSE:NKE)

WCM Investment Management LLC cut its position in shares of NIKE, Inc. (NYSE:NKE) by 36.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,844 shares of the footwear maker’s stock after selling 9,601 shares during the period. WCM Investment Management LLC’s holdings in NIKE were worth $1,507,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NKE. Nations Financial Group Inc. IA ADV increased its position in NIKE by 8.5% in the third quarter. Nations Financial Group Inc. IA ADV now owns 20,310 shares of the footwear maker’s stock worth $1,795,000 after purchasing an additional 1,585 shares during the last quarter. Delta Financial Advisors LLC grew its stake in shares of NIKE by 4.6% in the 3rd quarter. Delta Financial Advisors LLC now owns 34,366 shares of the footwear maker’s stock worth $3,038,000 after buying an additional 1,510 shares in the last quarter. TRU Independence Asset Management 2 LLC bought a new stake in shares of NIKE in the 3rd quarter worth about $238,000. Ashton Thomas Securities LLC purchased a new stake in shares of NIKE during the 3rd quarter valued at about $383,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of NIKE by 0.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 448,925 shares of the footwear maker’s stock valued at $39,685,000 after acquiring an additional 2,109 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.1 %

NIKE stock opened at $76.67 on Wednesday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The business has a fifty day moving average of $81.25 and a two-hundred day moving average of $83.61. The firm has a market cap of $114.96 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.84 and a beta of 1.03. 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 issued its quarterly earnings data 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 company had revenue of $11.59 billion for the quarter, compared to the consensus estimate 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 quarter last year, the company earned $0.94 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Telsey Advisory Group decreased their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Evercore ISI decreased their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Barclays dropped their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Robert W. Baird lifted their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.