Y.D. More Investments Ltd Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Y.D. More Investments Ltd increased its stake in NIKE, Inc. by 343.5% during the first quarter, owning 32,375 shares valued at approximately $2.06 million.
• NIKE's quarterly earnings exceeded expectations, reporting an EPS of $0.14 against a forecasted $0.12, and total revenue of $11.10 billion, surpassing analysts' predictions of $10.69 billion.
• Institutional ownership of NIKE stock is notably high at 64.25%, indicating strong investor confidence in the company.

Y.D. More Investments Ltd lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 343.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,375 shares of the footwear maker's stock after buying an additional 25,075 shares during the quarter. Y.D. More Investments Ltd's holdings in NIKE were worth $2,055,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter valued at $28,000. EnRich Financial Partners LLC raised its holdings in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after buying an additional 273 shares during the last quarter. Putney Financial Group LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $42,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of NIKE during the first quarter worth about $37,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.80% of the company's stock.

NIKE Price Performance

NIKE stock opened at $75.51 on Thursday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm has a 50 day moving average price of $69.17 and a 200 day moving average price of $67.61. 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.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 EPS. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on NKE shares. Needham & Company LLC upped their price objective on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. raised NIKE from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $64.00 to $93.00 in a report on Monday, July 28th. Royal Bank Of Canada decreased their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a report on Tuesday, May 20th. Bank of America lifted their price objective on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, Stifel Nicolaus cut their price objective on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.

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