Fort Pitt Capital Group LLC Boosts Position in NIKE, Inc. (NYSE:NKE)

Fort Pitt Capital Group LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 54.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,967 shares of the footwear maker’s stock after acquiring an additional 5,968 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in NIKE were worth $1,500,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Condor Capital Management grew its stake in shares of NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after buying an additional 116 shares in the last quarter. Nvwm LLC grew its stake in shares of NIKE by 1.0% in the first quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after buying an additional 120 shares in the last quarter. Garrison Point Advisors LLC grew its stake in shares of NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC grew its stake in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after buying an additional 128 shares in the last quarter. Finally, PSI Advisors LLC grew its stake in shares of NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

NIKE Trading Up 1.2 %

Shares of NYSE NKE opened at $78.06 on Friday. The company has a market cap of $117.04 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 1.87 and a beta of 1.03. NIKE, Inc. has a 12-month low of $70.75 and a 12-month 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 stock’s 50 day simple moving average is $82.12 and its 200 day simple moving average is $84.45.

NIKE (NYSE:NKE) last posted 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 firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the firm earned $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NKE shares. TD Cowen increased their price target on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and increased their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Robert W. Baird increased their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. UBS Group increased their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI reduced their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Fourteen 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

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.