Paragon Capital Management LLC Decreases Stock Holdings in NIKE, Inc. $NKE

Paragon Capital Management LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,399 shares of the footwear maker’s stock after selling 1,158 shares during the period. NIKE accounts for about 2.1% of Paragon Capital Management LLC’s portfolio, making the stock its 15th largest position. Paragon Capital Management LLC’s holdings in NIKE were worth $4,007,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP raised its stake in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the last quarter. Jennison Associates LLC acquired a new stake in NIKE in the first quarter worth about $509,051,000. Nuveen LLC purchased a new stake in shares of NIKE during the first quarter worth about $502,285,000. Finally, Vanguard Group Inc. grew its stake in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Piper Sandler set a $84.00 price target on shares of NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. The Goldman Sachs Group set a $85.00 price objective on shares of NIKE and gave the company a “buy” rating in a report on Thursday, September 25th. Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Cowen raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.72.

Insiders Place Their Bets

In related news, EVP Treasure Heinle sold 4,300 shares of the company’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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction on Friday, November 7th. The shares were acquired at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the transaction, 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 SEC filing for this purchase provides additional information. 0.80% of the stock is currently owned by insiders.

NIKE Stock Down 2.9%

Shares of NKE opened at $64.11 on Friday. The company has a market capitalization of $94.77 billion, a price-to-earnings ratio of 32.88, a PEG 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 stock’s 50-day moving average price is $68.50 and its 200-day moving average price is $68.65. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

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