Fiera Capital Corp Acquires 94,720 Shares of NIKE, Inc. $NKE

Fiera Capital Corp lifted its stake in NIKE, Inc. (NYSE:NKE) by 9.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,128,203 shares of the footwear maker’s stock after purchasing an additional 94,720 shares during the quarter. Fiera Capital Corp’s holdings in NIKE were worth $80,148,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Avalon Trust Co lifted its position in shares of NIKE by 86.2% during the 2nd quarter. Avalon Trust Co now owns 1,000 shares of the footwear maker’s stock valued at $71,000 after acquiring an additional 463 shares during the period. Thompson Davis & CO. Inc. acquired a new position in NIKE in the second quarter valued at about $221,000. MV Capital Management Inc. lifted its position in NIKE by 5.5% during the second quarter. MV Capital Management Inc. now owns 5,897 shares of the footwear maker’s stock worth $419,000 after purchasing an additional 305 shares during the period. ABN Amro Investment Solutions acquired a new stake in NIKE during the second quarter worth about $2,687,000. Finally, Candriam S.C.A. increased its holdings in NIKE by 332.4% in the 2nd quarter. Candriam S.C.A. now owns 385,298 shares of the footwear maker’s stock valued at $27,373,000 after buying an additional 296,194 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 1.7%

Shares of NKE opened at $64.22 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The stock has a market capitalization of $94.93 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 2.41 and a beta of 1.29. The stock has a fifty day moving average of $68.88 and a 200-day moving average of $68.62.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Insider Activity

In other NIKE news, Director Jorgen Vig Knudstorp bought 16,150 shares of NIKE stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the acquisition, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. The trade was a 308.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NKE shares. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. KeyCorp set a $90.00 price objective on shares of NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, Piper Sandler set a $84.00 price objective on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

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.