NIKE, Inc. (NYSE:NKE) Stake Trimmed by Sigma Planning Corp

Sigma Planning Corp lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 26.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,732 shares of the footwear maker’s stock after selling 6,122 shares during the period. Sigma Planning Corp’s holdings in NIKE were worth $1,479,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of NIKE by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock worth $454,151,000 after buying an additional 52,500 shares during the period. Longview Partners Guernsey LTD acquired a new position in NIKE during the first quarter valued at $533,533,000. Finally, Capital World Investors lifted its stake in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NYSE NKE opened at $76.67 on Wednesday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $81.25 and a 200 day simple moving average of $83.61. The firm has a market capitalization of $114.96 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 1.84 and a beta of 1.03.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the firm earned $0.94 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on NKE. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Barclays lowered their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Finally, Evercore ISI cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

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.