Allianz SE Decreases Stock Holdings in NIKE, Inc. $NKE

Allianz SE cut its holdings in NIKE, Inc. (NYSE:NKE) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,874 shares of the footwear maker’s stock after selling 1,163 shares during the period. Allianz SE’s holdings in NIKE were worth $9,297,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NKE. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of NIKE by 1.0% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after acquiring an additional 134 shares during the period. Caldwell Sutter Capital Inc. raised its holdings in NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after buying an additional 142 shares during the period. Salomon & Ludwin LLC boosted its position in NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after purchasing an additional 145 shares during the period. Westmount Partners LLC boosted its holdings in NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after acquiring an additional 146 shares during the period. Finally, HB Wealth Management LLC lifted its holdings in NIKE by 0.3% in the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after buying an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NKE. Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 target price on shares of NIKE in a report on Wednesday, October 1st. UBS Group set a $71.00 price objective on NIKE and gave the stock a “neutral” rating in a research note on Friday, September 19th. Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. KeyCorp set a $90.00 price objective on shares of NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, Truist Financial restated a “buy” rating and set a $85.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Trading Up 1.7%

NKE opened at $64.22 on Thursday. The stock has a market capitalization of $94.93 billion, a P/E ratio of 32.93, a P/E/G ratio of 2.41 and a beta of 1.29. The firm’s fifty day simple moving average is $68.88 and its 200 day simple moving average is $68.62. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Insider Transactions at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the purchase, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.80% 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.