Monaco Asset Management SAM Makes New Investment in NIKE, Inc. $NKE

Monaco Asset Management SAM purchased a new stake in NIKE, Inc. (NYSE:NKE) during the second quarter, according to its most recent filing with the SEC. The firm purchased 45,000 shares of the footwear maker’s stock, valued at approximately $3,197,000. NIKE accounts for 0.6% of Monaco Asset Management SAM’s portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Sound View Wealth Advisors Group LLC raised its holdings in NIKE by 35.1% in the second quarter. Sound View Wealth Advisors Group LLC now owns 6,270 shares of the footwear maker’s stock worth $445,000 after purchasing an additional 1,630 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of NIKE by 6,832.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 246,741 shares of the footwear maker’s stock worth $17,528,000 after buying an additional 243,182 shares during the last quarter. Delta Financial Advisors LLC raised its stake in shares of NIKE by 0.6% during the 2nd quarter. Delta Financial Advisors LLC now owns 31,489 shares of the footwear maker’s stock worth $2,237,000 after acquiring an additional 180 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of NIKE by 7.6% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390,279 shares of the footwear maker’s stock worth $169,805,000 after acquiring an additional 168,041 shares in the last quarter. Finally, Aviva PLC lifted its position in NIKE by 23.7% during the second quarter. Aviva PLC now owns 879,978 shares of the footwear maker’s stock valued at $62,514,000 after acquiring an additional 168,666 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $61.04 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The business has a 50-day simple moving average of $69.65 and a 200-day simple moving average of $68.52. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The stock has a market cap of $90.22 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29.

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

Insider Activity at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on 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 transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on NKE. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. BTIG Research initiated coverage on NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price objective for the company. KeyCorp set a $90.00 target price on NIKE and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. upped their target price on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Finally, UBS Group set a $71.00 price target on NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $82.21.

NIKE 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.