Farther Finance Advisors LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Farther Finance Advisors LLC lifted its position in NIKE, Inc. (NYSE:NKE) by 13.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,974 shares of the footwear maker’s stock after purchasing an additional 4,134 shares during the period. Farther Finance Advisors LLC’s holdings in NIKE were worth $3,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Longview Partners Guernsey LTD bought a new position in NIKE during the 1st quarter worth about $533,533,000. Capital World Investors boosted its stake in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. Jennison Associates LLC increased its holdings in NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares during the period. PineStone Asset Management Inc. raised its stake in NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after buying an additional 1,576,049 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after buying an additional 1,550,611 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NKE. Bank of America cut their price target on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and lifted their target price for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. UBS Group increased their price target on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein decreased their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Stock Performance

Shares of NYSE NKE opened at $78.06 on Friday. The company has a 50 day simple moving average of $82.12 and a two-hundred day simple moving average of $84.45. The stock has a market cap of $117.04 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.87 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the company posted $0.94 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 2.74 earnings per share 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.