Hoxton Planning & Management LLC Invests $223,000 in NIKE, Inc. (NYSE:NKE)

Key Points

• Hoxton Planning & Management LLC invested approximately $223,000 in NIKE, Inc., acquiring 3,507 shares in the first quarter.
• Multiple institutional investors have increased their positions in NIKE, with 64.25% of the stock now owned by hedge funds and other institutional investors.
• Analysts have mixed reviews on NIKE, with the stock receiving a consensus rating of "Moderate Buy" and average price target of $78.22.

Hoxton Planning & Management LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 3,507 shares of the footwear maker's stock, valued at approximately $223,000.

Several other institutional investors have also modified their holdings of NKE. Spire Wealth Management lifted its position in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after acquiring an additional 416 shares during the last quarter. Renaissance Technologies LLC lifted its position in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after acquiring an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC lifted its position in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after acquiring an additional 90,000 shares during the last quarter. Janus Henderson Group PLC lifted its position in NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after acquiring an additional 463,470 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after buying an additional 5,601 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. The Goldman Sachs Group lifted their price target on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Williams Trading cut their price target on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Truist Financial cut their price target on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Argus raised shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Finally, Robert W. Baird upped their target price on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, June 27th. One investment 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

Insider Activity at NIKE

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

NIKE Trading Down 2.7%

Shares of NKE opened at $74.65 on Friday. The firm's 50-day moving average is $68.07 and its two-hundred day moving average is $67.51. The firm has a market capitalization of $110.25 billion, a P/E ratio of 34.56, a PEG ratio of 2.79 and a beta of 1.25. NIKE, Inc. has a twelve month low of $52.28 and a twelve 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 released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 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 analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's quarterly 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. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

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.

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