Lyell Wealth Management LP Has $2.76 Million Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Lyell Wealth Management LP reduced its stake in NIKE, Inc. by 11.6%, selling 5,689 shares and now holding a total of 43,451 shares valued at $2,758,000.
• NIKE's stock is currently down 2.0% and opened at $76.74, with a market capitalization of $113.34 billion and a P/E ratio of 35.53.
• Analysts have mixed ratings on NIKE, with consensus rating of "Moderate Buy" and a target price of $78.22, indicating cautious optimism about the company's stock performance.

Lyell Wealth Management LP lessened its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 11.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,451 shares of the footwear maker's stock after selling 5,689 shares during the period. Lyell Wealth Management LP's holdings in NIKE were worth $2,758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Elgethun Capital Management lifted its holdings in shares of NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after acquiring an additional 149 shares during the period. AlTi Global Inc. lifted its holdings in shares of NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after acquiring an additional 150 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of NIKE by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after acquiring an additional 160 shares during the period. Peregrine Asset Advisers Inc. lifted its holdings in shares of NIKE by 1.2% during the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock worth $934,000 after acquiring an additional 181 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its holdings in shares of NIKE by 4.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock worth $296,000 after acquiring an additional 192 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NKE. Robert W. Baird increased their price objective on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Citigroup boosted their target price on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. DZ Bank cut NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a report on Thursday, July 10th. Finally, Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $78.22.

Insider Buying and Selling at NIKE

In related 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 transaction of $7,951,900.00. Following the sale, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.80% of the company's stock.

NIKE Stock Performance

Shares of NKE traded down $0.08 during mid-day trading on Friday, reaching $74.61. The company's stock had a trading volume of 11,901,464 shares, compared to its average volume of 12,368,582. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. 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. The business has a 50-day simple moving average of $68.36 and a two-hundred day simple moving average of $67.53. 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 posted its 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. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

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.