Missouri Trust & Investment Co Buys 1,779 Shares of NIKE, Inc. (NYSE:NKE)

Missouri Trust & Investment Co grew its stake in NIKE, Inc. (NYSE:NKE) by 10.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,604 shares of the footwear maker’s stock after purchasing an additional 1,779 shares during the quarter. Missouri Trust & Investment Co’s holdings in NIKE were worth $1,645,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Verus Capital Partners LLC lifted its holdings in NIKE by 44.4% during the third quarter. Verus Capital Partners LLC now owns 6,000 shares of the footwear maker’s stock worth $530,000 after acquiring an additional 1,845 shares during the period. Platform Technology Partners lifted its holdings in NIKE by 6.3% during the third quarter. Platform Technology Partners now owns 13,334 shares of the footwear maker’s stock worth $1,179,000 after acquiring an additional 788 shares during the period. Rakuten Securities Inc. lifted its holdings in NIKE by 24.8% during the third quarter. Rakuten Securities Inc. now owns 6,240 shares of the footwear maker’s stock worth $552,000 after acquiring an additional 1,240 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in NIKE by 1.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,028,773 shares of the footwear maker’s stock worth $267,744,000 after acquiring an additional 34,563 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in NIKE by 10.9% during the third quarter. Baillie Gifford & Co. now owns 182,830 shares of the footwear maker’s stock worth $16,162,000 after acquiring an additional 17,978 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE stock traded up $0.26 during trading on Tuesday, reaching $76.86. The company’s stock had a trading volume of 1,648,914 shares, compared to its average volume of 11,485,432. NIKE, Inc. has a 1 year low of $70.75 and a 1 year 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. The company has a market capitalization of $115.24 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03. The company’s fifty day moving average is $81.25 and its 200-day moving average is $83.61.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent analyst reports. Telsey Advisory Group dropped their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. TD Cowen raised their target price on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Finally, Morgan Stanley raised their target price on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.48.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

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.