Entropy Technologies LP Cuts Position in NIKE, Inc. (NYSE:NKE)

Entropy Technologies LP reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 57.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,951 shares of the footwear maker’s stock after selling 34,013 shares during the quarter. Entropy Technologies LP’s holdings in NIKE were worth $2,206,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC boosted its holdings 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 valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC grew its holdings in NIKE by 52.6% in 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 last quarter. Bruce G. Allen Investments LLC increased its position in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE during the 2nd quarter valued at $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE in the 2nd quarter worth $46,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NKE shares. Stifel Nicolaus decreased their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Telsey Advisory Group decreased their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Bank of America dropped their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Barclays decreased their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.48.

NIKE Price Performance

NIKE stock opened at $76.67 on Wednesday. The stock has a market capitalization of $114.96 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.84 and a beta of 1.03. The company’s fifty day moving average price is $81.25 and its 200 day moving average price is $83.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 1 year low of $70.75 and a 1 year 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, beating the consensus estimate 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 quarter last year, the business earned $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 research analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal 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.