Geode Capital Management LLC Has $1.83 Billion Stock Holdings in NIKE, Inc. $NKE

Geode Capital Management LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,864,771 shares of the footwear maker’s stock after selling 212,394 shares during the quarter. Geode Capital Management LLC owned approximately 1.75% of NIKE worth $1,829,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of NIKE by 1.0% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock valued at $1,007,000 after purchasing an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. boosted its holdings in shares of NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after purchasing an additional 142 shares during the period. Salomon & Ludwin LLC grew its holdings in shares of NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock valued at $120,000 after acquiring an additional 145 shares in the last quarter. Westmount Partners LLC grew its holdings in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after acquiring an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in NIKE by 0.3% during the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after purchasing an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on NKE. Truist Financial reiterated a “buy” rating and issued a $85.00 target price on shares of NIKE in a research note on Wednesday, October 1st. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a report on Friday, October 10th. Piper Sandler set a $84.00 target price on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Finally, Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $82.72.

Insiders Place Their Bets

In other NIKE news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the completion of the acquisition, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’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 completion of the sale, 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 position. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $64.22 on Thursday. The stock has a market capitalization of $94.93 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The firm has a 50 day moving average of $68.88 and a 200-day moving average of $68.62.

NIKE (NYSE:NKE) last released 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 firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period last year, the firm posted $0.70 EPS. The business’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

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.