Generation Investment Management LLP Purchases 236,719 Shares of NIKE, Inc. $NKE

Generation Investment Management LLP increased its position in NIKE, Inc. (NYSE:NKE) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,635,710 shares of the footwear maker’s stock after acquiring an additional 236,719 shares during the quarter. NIKE accounts for 1.6% of Generation Investment Management LLP’s holdings, making the stock its 21st largest position. Generation Investment Management LLP’s holdings in NIKE were worth $258,281,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Stone House Investment Management LLC bought a new position in shares of NIKE during the first quarter valued at $25,000. Mascoma Wealth Management LLC bought a new stake in shares of NIKE in the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC increased its holdings in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank acquired a new position in NIKE during the 1st quarter worth about $30,000. Finally, Matrix Trust Co grew its position in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 1.4%

NIKE stock opened at $61.04 on Monday. The firm has a market capitalization of $90.22 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The firm’s fifty day moving average price is $69.65 and its two-hundred day moving average price is $68.60. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last posted its earnings results 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. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the business posted $0.70 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Insider Activity

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the stock a “buy” rating in a research report on Thursday, September 25th. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. JPMorgan Chase & Co. upped their price target on shares of NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Piper Sandler set a $84.00 price target on NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Finally, UBS Group set a $71.00 price objective on NIKE and gave the stock a “neutral” rating in a research report on Friday, September 19th. Three 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 stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $82.21.

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.