NIKE, Inc. (NYSE:NKE) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 25.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 93,797 shares of the footwear maker’s stock after selling 31,953 shares during the quarter. Gulf International Bank UK Ltd’s holdings in NIKE were worth $8,291,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Transcendent Capital Group LLC raised its position in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC purchased a new stake in NIKE during the second quarter worth $44,000. Finally, Riverview Trust Co acquired a new stake in NIKE during the third quarter valued at $52,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $77.19 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market capitalization of $115.74 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03. The company’s 50 day simple moving average is $81.98 and its 200-day simple moving average is $84.24. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last announced 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 firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NKE. UBS Group lifted their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein reduced their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Robert W. Baird lifted their target price on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Finally, Royal Bank of Canada lowered their price objective on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

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.