TRUE Private Wealth Advisors Boosts Stock Position in NIKE, Inc. $NKE

TRUE Private Wealth Advisors lifted its stake in NIKE, Inc. (NYSE:NKE) by 43.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 17,866 shares of the footwear maker’s stock after acquiring an additional 5,436 shares during the period. TRUE Private Wealth Advisors’ holdings in NIKE were worth $1,269,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Needham & Company LLC reissued a “buy” rating and set a $78.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. UBS Group set a $71.00 target price on shares of NIKE and gave the stock a “neutral” rating in a research report on Friday, September 19th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of NIKE in a report on Friday, October 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $82.24.

NIKE Price Performance

Shares of NKE stock opened at $62.45 on Wednesday. The firm has a fifty day simple moving average of $68.05 and a 200-day simple moving average of $68.89. The company has a market capitalization of $92.32 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month 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 issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter last year, the company posted $0.70 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the transaction, the chairman directly owned 647,615 shares in the company, valued at $41,965,452. This represents a 11.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 16,150 shares of the company’s stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the transaction, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.

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.