NIKE, Inc. (NYSE:NKE) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE sold 60,099 shares of NIKE, lowering its stake by 6.4% and holding approximately 0.06% of the company's stock, valued at $55.7 million.
• Chairman Mark G. Parker sold 110,000 shares for nearly $7.95 million, resulting in an 11.55% decrease in his ownership.
• NIKE's stock opened at $74.61, with analysts predicting an EPS of 2.05 for the current year despite a 11.9% revenue decline year-over-year.

US Bancorp DE lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 6.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 877,477 shares of the footwear maker's stock after selling 60,099 shares during the period. US Bancorp DE owned approximately 0.06% of NIKE worth $55,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of NKE. Elgethun Capital Management lifted its stake in NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after acquiring an additional 149 shares during the period. AlTi Global Inc. lifted its position in NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after purchasing an additional 150 shares during the period. Cohen & Steers Inc. raised its stake 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 valued at $240,000 after buying an additional 160 shares during the last quarter. Peregrine Asset Advisers Inc. boosted its stake in shares of NIKE by 1.2% in the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock worth $934,000 after buying an additional 181 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its position in NIKE by 4.3% during the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after acquiring an additional 192 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company'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 of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.80% of the company's stock.

NIKE Stock Down 0.1%

Shares of NYSE NKE opened at $74.61 on Friday. The business's 50 day moving average is $68.36 and its two-hundred day moving average is $67.53. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. 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 firm has a market cap of $110.19 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 2.71 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last issued 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. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter last year, the company posted $0.99 EPS. The firm's revenue was down 11.9% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. Wall Street Zen lowered shares of NIKE from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Wells Fargo & Company lifted their price target on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Evercore ISI reduced their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Finally, DZ Bank cut NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective on the stock. in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $78.22.

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.

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