NIKE, Inc. (NYSE:NKE) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in NIKE, Inc. (NYSE:NKE) by 15.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,885,672 shares of the footwear maker’s stock after buying an additional 641,398 shares during the period. Van ECK Associates Corp owned approximately 0.33% of NIKE worth $431,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NKE. Whitener Capital Management Inc. lifted its stake in NIKE by 1.2% in the 3rd quarter. Whitener Capital Management Inc. now owns 35,648 shares of the footwear maker’s stock worth $3,151,000 after purchasing an additional 429 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new stake in shares of NIKE in the third quarter valued at approximately $5,038,000. GFS Advisors LLC lifted its position in NIKE by 95,378.2% during the third quarter. GFS Advisors LLC now owns 162,313 shares of the footwear maker’s stock worth $14,348,000 after buying an additional 162,143 shares in the last quarter. Fort Pitt Capital Group LLC boosted its stake in NIKE by 54.3% during the third quarter. Fort Pitt Capital Group LLC now owns 16,967 shares of the footwear maker’s stock worth $1,500,000 after buying an additional 5,968 shares during the last quarter. Finally, Confluence Wealth Services Inc. boosted its stake in NIKE by 4.3% during the third quarter. Confluence Wealth Services Inc. now owns 11,563 shares of the footwear maker’s stock worth $1,022,000 after buying an additional 475 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $78.06 on Friday. 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 $117.04 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 1.87 and a beta of 1.03. The stock’s 50-day moving average is $82.12 and its two-hundred day moving average is $84.45. NIKE, Inc. has a 1-year low of $70.75 and a 1-year 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, topping analysts’ consensus estimates of $0.52 by $0.18. The business 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 revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. Analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on NKE. UBS Group lifted their price target on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Jefferies Financial Group increased their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. reduced their price target 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. Finally, Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, NIKE has an average 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.