QRG Capital Management Inc. Sells 255 Shares of NIKE, Inc. (NYSE:NKE)

QRG Capital Management Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.3% in the third quarter, Holdings Channel reports. The firm owned 74,945 shares of the footwear maker’s stock after selling 255 shares during the period. QRG Capital Management Inc.’s holdings in NIKE were worth $6,625,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in NKE. Condor Capital Management boosted its position 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 acquiring an additional 116 shares during the period. Nvwm LLC boosted its position 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 acquiring an additional 120 shares during the period. Garrison Point Advisors LLC boosted its position 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 acquiring an additional 126 shares during the period. Stephens Consulting LLC boosted its position 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 acquiring an additional 128 shares during the period. Finally, PSI Advisors LLC boosted its position 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 acquiring an additional 130 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent research reports. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and upped their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Telsey Advisory Group cut their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Sanford C. Bernstein cut their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Finally, TD Cowen upped their target price on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

NIKE stock opened at $77.99 on Wednesday. The business’s 50-day simple moving average is $81.83 and its 200 day simple moving average is $84.13. The stock has a market cap of $116.94 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 1.90 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 quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $0.94 earnings per share. The company’s revenue was down 10.4% compared to the same quarter last year. As a group, research 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.