Umpqua Bank Has $1.32 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Umpqua Bank reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,918 shares of the footwear maker’s stock after selling 1,033 shares during the period. Umpqua Bank’s holdings in NIKE were worth $1,319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Longview Partners Guernsey LTD bought a new position in shares of NIKE during the 1st quarter worth approximately $533,533,000. Capital World Investors increased its position in shares of NIKE by 612.2% during the 1st 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 in the last quarter. PineStone Asset Management Inc. lifted its holdings in NIKE by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after purchasing an additional 1,576,049 shares during the last quarter. Renaissance Technologies LLC boosted its position in NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares in the last quarter. Finally, Swedbank AB bought a new stake in NIKE during the first quarter worth about $93,357,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on NKE shares. Sanford C. Bernstein reduced their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Robert W. Baird boosted their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Stock Performance

Shares of NIKE stock traded down $2.16 on Wednesday, hitting $75.82. The stock had a trading volume of 528,965 shares, compared to its average volume of 11,481,992. The stock has a market cap of $113.68 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03. The business’s 50 day moving average is $81.83 and its two-hundred day moving average is $84.13. 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, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share 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 company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

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.