Banque Cantonale Vaudoise Invests $324,000 in NIKE, Inc. (NYSE:NKE)

Key Points

• Banque Cantonale Vaudoise has invested approximately $324,000 in NIKE, Inc., acquiring 5,107 shares, marking a significant institutional investment in the company.
• NIKE recently reported quarterly earnings of $0.14 per share, exceeding estimates, despite an 11.9% year-over-year revenue decline.
• Analysts have mixed views on NIKE's stock, with a consensus rating of "Moderate Buy" and an average price target of $78.22, reflecting varying expectations for the company's performance.

Banque Cantonale Vaudoise acquired a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,107 shares of the footwear maker's stock, valued at approximately $324,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at about $28,000. EnRich Financial Partners LLC lifted its stake in NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after buying an additional 273 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake in NIKE by 95.1% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after buying an additional 250 shares during the last quarter. Putney Financial Group LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $40,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of NIKE during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NKE opened at $74.61 on Friday. The company has a 50-day moving average of $68.36 and a two-hundred day moving average of $67.53. The stock has a market cap of $110.19 billion, a P/E ratio of 34.54, a PEG ratio of 2.71 and a beta of 1.27. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The business's revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 earnings per share. As a group, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NKE shares. Barclays boosted their price target on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Williams Trading dropped their target price on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Truist Financial decreased their price target on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. JPMorgan Chase & Co. upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $64.00 to $93.00 in a research report on Monday, July 28th. Finally, Royal Bank Of Canada dropped their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.22.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by corporate insiders.

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.

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