NIKE, Inc. (NYSE:NKE) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 86.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,500 shares of the footwear maker’s stock after selling 22,954 shares during the period. Pittenger & Anderson Inc.’s holdings in NIKE were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Cordatus Wealth Management LLC increased its holdings in shares of NIKE by 19.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC raised its position in shares of NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in shares of NIKE by 44.8% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after acquiring an additional 60,008 shares in the last quarter. Lafayette Investments Inc. grew its position in shares of NIKE by 90.7% during the 3rd quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock valued at $4,075,000 after acquiring an additional 21,922 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after purchasing an additional 9,689 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on NKE. Sanford C. Bernstein dropped their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Guggenheim dropped their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. UBS Group boosted their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Finally, Bank of America cut their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.56.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the 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 of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

NIKE Trading Up 1.0 %

NYSE NKE opened at $77.99 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $116.94 billion, a P/E ratio of 22.35, a PEG ratio of 1.90 and a beta of 1.03. The firm’s 50-day moving average is $81.83 and its two-hundred day moving average is $84.13. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

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

About NIKE

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.