Markel Group Inc. raised its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 10.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 428,900 shares of the footwear maker's stock after acquiring an additional 40,000 shares during the quarter. Markel Group Inc.'s holdings in NIKE were worth $37,915,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in NKE. Longview Partners Guernsey LTD purchased a new position in shares of NIKE during the first quarter worth approximately $533,533,000. Capital World Investors boosted its holdings in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker's stock valued at $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. PineStone Asset Management Inc. increased its position 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 worth $204,681,000 after purchasing an additional 1,576,049 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of NIKE by 351.7% in the 2nd 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 during the period. Finally, Swedbank AB purchased a new stake in shares of NIKE in the first quarter valued at approximately $93,357,000. Hedge funds and other institutional investors own 64.25% of the company's stock.
Insider Activity
In other news, Chairman Mark G. Parker sold 52,487 shares of the firm's stock in a transaction 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 completion of the sale, the chairman now owns 1,031,226 shares of the company's stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is owned by company insiders.
NIKE Stock Performance
NKE stock traded down $0.04 on Friday, reaching $75.88. The company's stock had a trading volume of 8,140,788 shares, compared to its average volume of 9,333,267. The firm has a fifty day moving average of $81.39 and a two-hundred day moving average of $83.88. 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 $113.77 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.
NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the prior year, the firm posted $0.94 EPS. NIKE's revenue was down 10.4% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on NKE. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. UBS Group upped their target price on shares of NIKE from $78.00 to $82.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Daiwa America lowered shares of NIKE from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the stock a "hold" rating in a research report on Monday, September 30th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $96.48.
Check Out Our Latest Report on NIKE
About NIKE
(
Free Report)
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.
Further Reading
Before you consider NIKE, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NIKE wasn't on the list.
While NIKE currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
