NIKE, Inc. (NYSE:NKE) Shares Sold by Private Advisory Group LLC

Key Points

• Private Advisory Group LLC reduced its holdings in NIKE, Inc. by 38.0%, owning 7,197 shares valued at approximately $457,000 after selling 4,412 shares in the first quarter.
• Institutional ownership of NIKE stands at 64.25%, with other hedge funds like Brighton Jones LLC significantly increasing their stakes during the fourth quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for NIKE, with price targets ranging from $65.00 to $93.00, reflecting optimism about the stock's performance.

Private Advisory Group LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 38.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,197 shares of the footwear maker's stock after selling 4,412 shares during the quarter. Private Advisory Group LLC's holdings in NIKE were worth $457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its position in NIKE by 28.6% during the first quarter. Natixis Advisors LLC now owns 1,091,722 shares of the footwear maker's stock valued at $69,302,000 after buying an additional 242,652 shares during the period. NorthRock Partners LLC grew its position in shares of NIKE by 8.2% in the first quarter. NorthRock Partners LLC now owns 16,226 shares of the footwear maker's stock valued at $1,036,000 after purchasing an additional 1,233 shares during the period. SSA Swiss Advisors AG acquired a new stake in shares of NIKE in the first quarter valued at about $2,671,000. Mesirow Financial Investment Management Inc. grew its position in shares of NIKE by 4.6% in the first quarter. Mesirow Financial Investment Management Inc. now owns 30,162 shares of the footwear maker's stock valued at $1,915,000 after purchasing an additional 1,320 shares during the period. Finally, Arkadios Wealth Advisors grew its position in shares of NIKE by 113.4% in the first quarter. Arkadios Wealth Advisors now owns 47,813 shares of the footwear maker's stock valued at $3,035,000 after purchasing an additional 25,410 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Down 0.1%

NKE traded down $0.08 during trading hours on Friday, hitting $74.61. 11,901,464 shares of the company's stock were exchanged, compared to its average volume of 12,368,582. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The firm has a 50 day moving average of $68.36 and a 200 day moving average of $67.53. The firm has a market cap of $110.19 billion, a P/E ratio of 34.54, a price-to-earnings-growth ratio of 2.71 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 announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping 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 firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the firm earned $0.99 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business's 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 completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NKE. Stifel Nicolaus dropped their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Telsey Advisory Group reiterated a "market perform" rating and issued a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. Morgan Stanley lifted their target price on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. DZ Bank lowered shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research report on Thursday, July 10th. Finally, Truist Financial decreased their price target on shares of NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned 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.com, the company currently 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.