Crestwood Advisors Group LLC Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Crestwood Advisors Group LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,740 shares of the footwear maker’s stock after selling 1,064 shares during the quarter. Crestwood Advisors Group LLC’s holdings in NIKE were worth $2,629,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Heritage Investors Management Corp lifted its stake in shares of NIKE by 2.6% during the 3rd quarter. Heritage Investors Management Corp now owns 352,199 shares of the footwear maker’s stock valued at $31,134,000 after buying an additional 9,068 shares in the last quarter. Sentry Investment Management LLC increased its holdings in NIKE by 355.9% during the 3rd quarter. Sentry Investment Management LLC now owns 5,735 shares of the footwear maker’s stock worth $507,000 after acquiring an additional 4,477 shares during the period. FSM Wealth Advisors LLC increased its holdings in NIKE by 18.5% during the 3rd quarter. FSM Wealth Advisors LLC now owns 4,945 shares of the footwear maker’s stock worth $437,000 after acquiring an additional 772 shares during the period. Catalyst Capital Advisors LLC bought a new stake in NIKE during the 3rd quarter worth approximately $54,000. Finally, Quintet Private Bank Europe S.A. increased its holdings in NIKE by 25.5% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 552,280 shares of the footwear maker’s stock worth $48,822,000 after acquiring an additional 112,066 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 1.0 %

Shares of NIKE stock opened at $77.99 on Wednesday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The firm has a market cap of $116.94 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 1.90 and a beta of 1.03. The company has a 50-day moving average of $81.83 and a 200 day moving average of $84.13. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the company posted $0.94 EPS. NIKE’s revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. UBS Group upped their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Guggenheim decreased their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. TD Cowen increased their price target on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus decreased their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.56.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

About NIKE

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.