NorthRock Partners LLC Sells 2,713 Shares of NIKE, Inc. (NYSE:NKE)

NorthRock Partners LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 32.8% during the 3rd quarter, Holdings Channel reports. The fund owned 5,556 shares of the footwear maker’s stock after selling 2,713 shares during the period. NorthRock Partners LLC’s holdings in NIKE were worth $491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Transcendent Capital Group LLC raised its holdings in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC raised its holdings 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 during the last quarter. Bruce G. Allen Investments LLC raised its holdings in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in NIKE during the second quarter worth $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in NIKE during the second quarter worth $46,000. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

Shares of NYSE:NKE opened at $77.99 on Wednesday. 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 firm has a market capitalization of $116.94 billion, a PE ratio of 22.35, a P/E/G ratio of 1.90 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a 50-day moving average price of $81.83 and a two-hundred day moving average price of $84.13.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping 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 net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business earned $0.94 earnings per share. Equities analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NKE shares. Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus lowered their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Sanford C. Bernstein lowered their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Finally, Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were 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 $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

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.