Verus Capital Partners LLC Buys 1,845 Shares of NIKE, Inc. (NYSE:NKE)

Verus Capital Partners LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 44.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,000 shares of the footwear maker’s stock after acquiring an additional 1,845 shares during the quarter. Verus Capital Partners LLC’s holdings in NIKE were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NKE. Longview Partners Guernsey LTD bought a new stake in NIKE in the 1st quarter worth approximately $533,533,000. Capital World Investors lifted its holdings in shares of 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 during the last quarter. PineStone Asset Management Inc. boosted its stake in shares of NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after purchasing an additional 1,576,049 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. Finally, Swedbank AB purchased a new position in NIKE in the 1st quarter worth $93,357,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on NKE shares. Telsey Advisory Group decreased their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Jefferies Financial Group boosted their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Royal Bank of Canada cut their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Finally, Guggenheim decreased their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Stock Up 0.1 %

NYSE:NKE opened at $76.67 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm has a market cap of $114.96 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm has a 50-day simple moving average of $81.25 and a two-hundred day simple moving average of $83.61.

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

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.