NIKE, Inc. $NKE Position Reduced by Pioneer Trust Bank N A OR

Pioneer Trust Bank N A OR reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,718 shares of the footwear maker’s stock after selling 4,250 shares during the period. Pioneer Trust Bank N A OR’s holdings in NIKE were worth $4,740,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Banco Santander S.A. lifted its stake in NIKE by 28.3% during the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after purchasing an additional 48,764 shares during the last quarter. Soltis Investment Advisors LLC increased its stake in NIKE by 238.8% during the second quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock valued at $10,042,000 after purchasing an additional 99,638 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after purchasing an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of NIKE in the 1st quarter worth about $25,963,000. Finally, BROOKFIELD Corp ON lifted its position in shares of NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after buying an additional 175,000 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the company’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the transaction, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NKE. The Goldman Sachs Group set a $85.00 price objective on shares of NIKE and gave the company a “buy” rating in a research report on Thursday, September 25th. Sanford C. Bernstein restated a “buy” rating and issued a $90.00 target price on shares of NIKE in a research note on Monday, October 13th. 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 target on shares of NIKE in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $82.21.

NIKE Stock Performance

Shares of NKE stock opened at $63.10 on Wednesday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The firm has a market capitalization of $93.27 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The business has a 50 day simple moving average of $69.09 and a 200 day simple moving average of $68.66. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last announced its earnings results 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. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the previous year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

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.