SpiderRock Advisors LLC Has $4.90 Million Stake in NIKE, Inc. (NYSE:NKE)

SpiderRock Advisors LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 22.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,402 shares of the footwear maker’s stock after purchasing an additional 10,066 shares during the quarter. SpiderRock Advisors LLC’s holdings in NIKE were worth $4,898,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC increased its position in 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 buying an additional 200 shares during the period. VitalStone Financial LLC grew its stake in shares of 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 acquiring an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in 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 acquiring an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new position in NIKE during the 2nd quarter valued at $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in NIKE during the 2nd quarter valued at $46,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Down 0.1 %

NYSE NKE opened at $75.88 on Friday. The stock’s 50 day simple moving average is $81.39 and its 200 day simple moving average is $83.88. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. 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 has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 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 company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NKE has been the topic of several research reports. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Morgan Stanley boosted their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. UBS Group lifted their price objective on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.48.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.