NIKE, Inc. (NYSE:NKE) Shares Purchased by Fountainhead AM LLC

Fountainhead AM LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.6% in the third quarter, Holdings Channel reports. The firm owned 7,841 shares of the footwear maker’s stock after buying an additional 485 shares during the period. Fountainhead AM LLC’s holdings in NIKE were worth $693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Longview Partners Guernsey LTD acquired a new position in NIKE in the 1st quarter valued at about $533,533,000. Capital World Investors grew its position in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. PineStone Asset Management Inc. grew its position in NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after acquiring an additional 1,576,049 shares in the last quarter. Renaissance Technologies LLC grew its position in NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after acquiring an additional 1,550,611 shares in the last quarter. Finally, Swedbank AB acquired a new position in NIKE in the 1st quarter valued at about $93,357,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock traded up $0.86 on Monday, reaching $76.74. 3,149,766 shares of the company’s stock were exchanged, compared to its average volume of 11,501,901. The stock has a fifty day moving average of $81.39 and a 200-day moving average of $83.73. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The firm has a market cap of $115.06 billion, a PE ratio of 21.74, a P/E/G ratio of 1.84 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

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

Analysts Set New Price Targets

NKE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Guggenheim lowered their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Stifel Nicolaus lowered their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Robert W. Baird boosted their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Piper Sandler restated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $96.48.

Insider Buying and Selling

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

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.