Paradigm Asset Management Co. LLC Sells 20,100 Shares of NIKE, Inc. $NKE

Paradigm Asset Management Co. LLC cut its position in shares of NIKE, Inc. (NYSE:NKE) by 97.2% in the second quarter, Holdings Channel reports. The institutional investor owned 569 shares of the footwear maker’s stock after selling 20,100 shares during the period. Paradigm Asset Management Co. LLC’s holdings in NIKE were worth $40,000 as of its most recent SEC filing.

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

NIKE Trading Down 1.4%

Shares of NIKE stock opened at $61.04 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The business has a fifty day simple moving average of $69.65 and a two-hundred day simple moving average of $68.52. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The company has a market capitalization of $90.22 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stifel Nicolaus set a $68.00 price target on shares of NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. BTIG Research initiated coverage on NIKE in a research report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. Three investment 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’s stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Transactions at NIKE

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