Commerce Bank Has $5.76 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Commerce Bank has reduced its holdings in NIKE, Inc. by 10.4%, now owning 90,785 shares valued at approximately $5.76 million.
• Institutional investors collectively hold 64.25% of NIKE's stock, indicating strong institutional interest amid varying investment strategies.
• Analysts' ratings for NIKE vary, with a consensus of Moderate Buy and an average price target of $78.22, reflecting investors' mixed outlook on the stock.

Commerce Bank decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 10.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 90,785 shares of the footwear maker's stock after selling 10,528 shares during the period. Commerce Bank's holdings in NIKE were worth $5,763,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. EagleClaw Capital Managment LLC lifted its stake in NIKE by 7.5% in the 1st quarter. EagleClaw Capital Managment LLC now owns 408,933 shares of the footwear maker's stock valued at $25,959,000 after acquiring an additional 28,567 shares in the last quarter. Moors & Cabot Inc. increased its position in shares of NIKE by 5.7% during the 1st quarter. Moors & Cabot Inc. now owns 25,165 shares of the footwear maker's stock worth $1,597,000 after purchasing an additional 1,352 shares during the last quarter. Howland Capital Management LLC increased its position in shares of NIKE by 44.3% during the 1st quarter. Howland Capital Management LLC now owns 8,774 shares of the footwear maker's stock worth $560,000 after purchasing an additional 2,695 shares during the last quarter. Nicolet Advisory Services LLC increased its position in shares of NIKE by 28.0% during the 1st quarter. Nicolet Advisory Services LLC now owns 9,400 shares of the footwear maker's stock worth $597,000 after purchasing an additional 2,055 shares during the last quarter. Finally, Hoxton Planning & Management LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $223,000. Institutional investors own 64.25% of the company's stock.

Insider Activity

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

NIKE Trading Down 0.0%

NIKE stock traded down $0.02 during trading hours on Tuesday, hitting $74.80. The stock had a trading volume of 888,062 shares, compared to its average volume of 17,318,328. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The stock has a market cap of $110.47 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 2.71 and a beta of 1.27. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The business's 50 day simple moving average is $68.66 and its 200-day simple moving average is $67.51.

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 firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the company earned $0.99 earnings per share. The business's quarterly revenue was down 11.9% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on NKE. Wall Street Zen lowered NIKE from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Bank of America boosted their price target on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. JPMorgan Chase & Co. raised NIKE from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $64.00 to $93.00 in a report on Monday, July 28th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.22.

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.