NIKE, Inc. (NYSE:NKE) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management cut its holdings in NIKE, Inc. (NYSE:NKE) by 2.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 27,064 shares of the footwear maker’s stock after selling 796 shares during the period. Keudell Morrison Wealth Management’s holdings in NIKE were worth $2,392,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC raised its holdings in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC raised its holdings in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in NIKE during the 2nd quarter worth about $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in NIKE during the 2nd quarter worth about $46,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock traded up $0.75 during midday trading on Thursday, reaching $76.07. The company had a trading volume of 2,049,591 shares, compared to its average volume of 11,510,846. 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 capitalization of $114.06 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a 50 day moving average price of $81.68 and a 200-day moving average price of $84.07.

NIKE (NYSE:NKE) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. TD Cowen boosted their price objective on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Barclays cut their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus cut their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Activity at NIKE

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 transaction of $4,093,986.00. Following the transaction, the chairman now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by company insiders.

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.