Sentry Investment Management LLC Has $507,000 Stock Position in NIKE, Inc. (NYSE:NKE)

Sentry Investment Management LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 355.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,735 shares of the footwear maker’s stock after buying an additional 4,477 shares during the quarter. Sentry Investment Management LLC’s holdings in NIKE were worth $507,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NKE. Transcendent Capital Group LLC boosted its holdings in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares during the period. VitalStone Financial LLC grew its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in shares of NIKE in the 2nd quarter worth approximately $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE during the 2nd quarter worth approximately $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 1.1 %

NYSE:NKE opened at $77.19 on Tuesday. The stock has a 50-day simple moving average of $81.98 and a 200 day simple moving average of $84.24. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a market cap of $115.74 billion, a PE ratio of 22.12, a PEG ratio of 1.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the business earned $0.94 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. On average, sell-side analysts expect that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Insider Transactions at NIKE

In related 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 value of $4,093,986.00. Following the sale, the chairman now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NKE shares. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Wells Fargo & Company upped their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Bank of America cut their target price on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Morgan Stanley lifted their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.