NIKE, Inc. $NKE Shares Purchased by Verus Capital Partners LLC

Verus Capital Partners LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 26.5% during the second quarter, HoldingsChannel.com reports. The firm owned 13,010 shares of the footwear maker’s stock after buying an additional 2,729 shares during the period. Verus Capital Partners LLC’s holdings in NIKE were worth $924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mascoma Wealth Management LLC acquired a new stake in NIKE in the second quarter valued at $26,000. Stone House Investment Management LLC bought a new stake in shares of NIKE in the 1st quarter worth about $25,000. Halbert Hargrove Global Advisors LLC raised 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 in the last quarter. Matrix Trust Co raised its stake in shares of NIKE by 53.1% in the 2nd 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 bought a new position in shares of NIKE during the first quarter worth about $30,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE opened at $63.10 on Wednesday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The company has a market cap 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 company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm has a fifty day moving average of $69.09 and a 200-day moving average of $68.66.

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

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the acquisition, the director owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. The trade was a 308.32% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NKE. Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the company a “buy” rating in a report on Thursday, September 25th. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently 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.