Bridges Investment Management Inc. Sells 89,953 Shares of NIKE, Inc. (NYSE:NKE)

Bridges Investment Management Inc. cut its position in shares of NIKE, Inc. (NYSE:NKE) by 65.3% in the third quarter, HoldingsChannel reports. The firm owned 47,906 shares of the footwear maker’s stock after selling 89,953 shares during the period. Bridges Investment Management Inc.’s holdings in NIKE were worth $4,235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Condor Capital Management lifted its stake in NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after purchasing an additional 116 shares in the last quarter. Garrison Point Advisors LLC lifted its stake in NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC lifted its stake in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares in the last quarter. PSI Advisors LLC lifted its stake in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares in the last quarter. Finally, Pitcairn Co. raised its stake in shares of NIKE by 0.5% in the first quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock valued at $2,732,000 after acquiring an additional 132 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NKE. JPMorgan Chase & Co. reduced their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and increased their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

NIKE Stock Performance

Shares of NKE opened at $75.88 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a market cap of $113.77 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. The company’s 50 day simple moving average is $81.39 and its 200-day simple moving average is $83.88. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the firm posted $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

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.