Bailard Inc. Buys 19,338 Shares of NIKE, Inc. $NKE

Bailard Inc. boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 39.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,257 shares of the footwear maker’s stock after acquiring an additional 19,338 shares during the quarter. Bailard Inc.’s holdings in NIKE were worth $4,849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares in the last quarter. CWM LLC raised its position in NIKE by 127.1% in the 1st quarter. CWM LLC now owns 86,828 shares of the footwear maker’s stock valued at $5,512,000 after purchasing an additional 48,598 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in NIKE by 4.4% in the first quarter. Bleakley Financial Group LLC now owns 12,150 shares of the footwear maker’s stock worth $771,000 after purchasing an additional 511 shares in the last quarter. Edgestream Partners L.P. grew its holdings in shares of NIKE by 276.1% during the first quarter. Edgestream Partners L.P. now owns 27,649 shares of the footwear maker’s stock worth $1,755,000 after purchasing an additional 20,298 shares during the last quarter. Finally, Sigma Planning Corp increased its stake in shares of NIKE by 9.6% in the first quarter. Sigma Planning Corp now owns 17,297 shares of the footwear maker’s stock valued at $1,098,000 after buying an additional 1,515 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NKE. Piper Sandler set a $84.00 price target on NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. Barclays set a $70.00 target price on shares of NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. UBS Group set a $71.00 target price on shares of NIKE and gave the stock a “neutral” rating in a research report on Friday, September 19th. KeyCorp set a $90.00 price target on shares of NIKE and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group set a $85.00 price objective on shares of NIKE and gave the stock a “buy” rating in a research report on Thursday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Price Performance

NKE opened at $64.22 on Thursday. The company has a fifty day moving average price of $68.88 and a two-hundred day moving average price of $68.62. The firm has a market capitalization of $94.93 billion, a PE ratio of 32.93, a P/E/G ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

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

Insider Activity

In related news, Director Jorgen Vig Knudstorp bought 16,150 shares of NIKE stock in a transaction on Friday, November 7th. The shares were purchased at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the acquisition, the director owned 21,388 shares in the company, valued at approximately $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated 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 $2,095,052.92. The trade was a 12.76% 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.

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.