First Trust Direct Indexing L.P. Has $2.91 Million Stock Position in NIKE, Inc. (NYSE:NKE)

First Trust Direct Indexing L.P. boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,965 shares of the footwear maker’s stock after buying an additional 937 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in NIKE were worth $2,914,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Transcendent Capital Group LLC increased its holdings in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new position in shares of NIKE in the second quarter valued at about $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE during the 2nd quarter worth about $46,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NKE shares. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Guggenheim lowered their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Jefferies Financial Group boosted their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Royal Bank of Canada lowered their price objective on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Bank of America reduced their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Price Performance

Shares of NYSE:NKE opened at $76.43 on Thursday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. 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 company has a market cap of $114.60 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.90 and a beta of 1.02. The firm has a 50 day simple moving average of $82.37 and a 200 day simple moving average of $84.67.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. Research analysts predict that NIKE, Inc. will post 2.76 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’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 completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

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.