Palisades Hudson Asset Management L.P. Acquires Shares of 2,442 NIKE, Inc. (NYSE:NKE)

Palisades Hudson Asset Management L.P. bought a new stake in NIKE, Inc. (NYSE:NKE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,442 shares of the footwear maker’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently made changes to their positions in NKE. Vanguard Group Inc. boosted its position in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the period. Legal & General Group Plc grew its stake in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of NIKE by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after buying an additional 52,500 shares in the last quarter. Longview Partners Guernsey LTD purchased a new stake in NIKE during the first quarter valued at about $533,533,000. Finally, Capital World Investors lifted its stake in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

NIKE stock remained flat at $78.06 during midday trading on Monday. The company’s stock had a trading volume of 440,126 shares, compared to its average volume of 11,532,003. 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 firm has a market capitalization of $117.04 billion, a PE ratio of 22.37, a P/E/G ratio of 1.87 and a beta of 1.03. The stock’s 50-day simple moving average is $82.12 and its 200-day simple moving average is $84.37. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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 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 analyst estimates of $11.64 billion. During the same period last year, the firm posted $0.94 EPS. NIKE’s revenue was down 10.4% on a year-over-year basis. As a group, equities research analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Evercore ISI decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Robert W. Baird raised their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Jefferies Financial Group raised their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and upped their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

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.