Crossmark Global Holdings Inc. Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Crossmark Global Holdings Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 13.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 228,611 shares of the footwear maker’s stock after selling 34,957 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in NIKE were worth $20,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Transcendent Capital Group LLC increased its stake in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC raised its stake in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in 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 last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE in the 2nd quarter valued at approximately $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE during the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Royal Bank of Canada reduced their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Telsey Advisory Group reduced their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Guggenheim lowered their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Stock Performance

NKE traded down $0.04 on Friday, reaching $75.88. The company had a trading volume of 8,140,788 shares, compared to its average volume of 9,333,267. The stock has a 50-day moving average price of $81.39 and a 200-day moving average price of $83.88. The stock has a market capitalization of $113.77 billion, a PE ratio of 21.74, a P/E/G ratio of 1.83 and a beta of 1.03. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its quarterly 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 return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the business posted $0.94 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Insider Activity at NIKE

In other NIKE 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 approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

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.