Primecap Management Co. CA bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,756,430 shares of the footwear maker's stock, valued at approximately $111,498,000. Primecap Management Co. CA owned about 0.12% of NIKE as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. AlTi Global Inc. grew its stake in NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $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% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after purchasing an additional 160 shares in the last quarter. Peregrine Asset Advisers Inc. grew its position in NIKE by 1.2% in the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock valued at $934,000 after purchasing an additional 181 shares during the period. Aaron Wealth Advisors LLC increased its stake in NIKE by 4.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after purchasing an additional 192 shares in the last quarter. Finally, Crew Capital Management Ltd. raised its holdings in NIKE by 1.4% during the first quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock worth $873,000 after buying an additional 192 shares during the last quarter. Institutional investors own 64.25% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Evercore ISI cut their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Robert W. Baird increased their price objective on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note 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. Finally, HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.22.
Check Out Our Latest Stock Report on NIKE
Insider Transactions at NIKE
In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated 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 directly owned 842,361 shares of the company's stock, 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 this link. Corporate insiders own 0.80% of the company's stock.
NIKE Price Performance
NIKE stock opened at $75.51 on Thursday. The business's 50 day simple moving average is $69.17 and its 200 day simple moving average is $67.61. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a market cap of $111.52 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 2.70 and a beta of 1.27. 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 earnings results 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 firm had revenue of $11.10 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $0.99 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.
NIKE Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

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