Portside Wealth Group LLC Cuts Position in NIKE, Inc. (NYSE:NKE)

Portside Wealth Group LLC decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 62.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,909 shares of the footwear maker's stock after selling 23,411 shares during the period. Portside Wealth Group LLC's holdings in NIKE were worth $1,230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Advisory Services Network LLC increased its stake in shares of NIKE by 3.6% during the first quarter. Advisory Services Network LLC now owns 45,762 shares of the footwear maker's stock worth $4,301,000 after purchasing an additional 1,572 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of NIKE by 28.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 97,068 shares of the footwear maker's stock worth $9,122,000 after purchasing an additional 21,500 shares during the period. AIA Group Ltd increased its stake in shares of NIKE by 35.6% during the first quarter. AIA Group Ltd now owns 15,297 shares of the footwear maker's stock worth $1,438,000 after purchasing an additional 4,020 shares during the period. Empowered Funds LLC increased its stake in shares of NIKE by 195.2% during the first quarter. Empowered Funds LLC now owns 45,100 shares of the footwear maker's stock worth $4,238,000 after purchasing an additional 29,823 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of NIKE by 13.1% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,444 shares of the footwear maker's stock worth $1,733,000 after purchasing an additional 2,137 shares during the period. Institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, 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. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NKE shares. Bank of America reduced their price target on NIKE from $104.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, October 2nd. UBS Group increased their price target on NIKE from $78.00 to $82.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on NIKE from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 2nd. Stifel Nicolaus reduced their price target on NIKE from $88.00 to $79.00 and set a "hold" rating on the stock in a research report on Monday, August 26th. Finally, Evercore ISI reduced their price target on NIKE from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $96.48.

NIKE Stock Down 0.1 %

Shares of NKE traded down $0.04 during trading hours on Friday, hitting $75.88. The stock had a trading volume of 8,134,295 shares, compared to its average volume of 11,540,352. 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 firm has a 50 day simple moving average of $81.39 and a 200-day simple moving average of $83.88. The firm has a market capitalization of $113.77 billion, a P/E ratio of 21.74, 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.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The company 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 firm's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.94 EPS. Sell-side analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE 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.