SouthState Corp Has $3.02 Million Stake in NIKE, Inc. $NKE

SouthState Corp lowered its position in NIKE, Inc. (NYSE:NKE) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,526 shares of the footwear maker’s stock after selling 1,188 shares during the period. SouthState Corp’s holdings in NIKE were worth $3,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Mascoma Wealth Management LLC bought a new stake in NIKE in the second quarter worth approximately $26,000. Stone House Investment Management LLC acquired a new stake in shares of NIKE in the 1st quarter valued at $25,000. Halbert Hargrove Global Advisors LLC lifted its stake in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the last quarter. Matrix Trust Co boosted its holdings in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. Finally, Saudi Central Bank acquired a new position in NIKE during the first quarter worth $30,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE opened at $61.89 on Friday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company has a market cap of $91.48 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.41 and a beta of 1.29. The business’s 50 day moving average is $69.97 and its two-hundred day moving average is $68.41. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the company posted $0.70 earnings per share. NIKE’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NKE. Morgan Stanley set a $72.00 price target on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. KeyCorp set a $90.00 target price on NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Truist Financial reiterated a “buy” rating and set a $85.00 price target on shares of NIKE in a report on Wednesday, October 1st. Finally, UBS Group set a $71.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a research note on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

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.