Winthrop Capital Management LLC Lowers Stock Holdings in NIKE, Inc. $NKE

Winthrop Capital Management LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 71.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,048 shares of the footwear maker’s stock after selling 2,682 shares during the period. Winthrop Capital Management LLC’s holdings in NIKE were worth $74,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Midwest Trust Co bought a new stake in NIKE in the 2nd quarter worth approximately $1,639,000. Flossbach Von Storch SE grew its position in NIKE by 9.5% during the second quarter. Flossbach Von Storch SE now owns 11,265,390 shares of the footwear maker’s stock valued at $800,293,000 after acquiring an additional 978,771 shares during the last quarter. DJE Kapital AG raised its stake in shares of NIKE by 0.4% during the second quarter. DJE Kapital AG now owns 686,165 shares of the footwear maker’s stock worth $48,183,000 after acquiring an additional 2,758 shares in the last quarter. Monaco Asset Management SAM bought a new stake in shares of NIKE in the 2nd quarter worth approximately $3,197,000. Finally, Sound View Wealth Advisors Group LLC lifted its holdings in shares of NIKE by 35.1% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 6,270 shares of the footwear maker’s stock worth $445,000 after acquiring an additional 1,630 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a report on Friday, October 10th. KeyCorp set a $90.00 price target on shares of NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their target price on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, Piper Sandler set a $84.00 target price on NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Stock Performance

NIKE stock opened at $61.04 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average of $69.65 and a 200-day moving average of $68.52. The firm has a market cap of $90.22 billion, a P/E ratio of 31.30, a P/E/G ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

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

Insider Activity at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on 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 sale, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by insiders.

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.