NIKE, Inc. (NYSE:NKE) Shares Sold by Assetmark Inc.

Assetmark Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.0% in the third quarter, Holdings Channel reports. The firm owned 86,005 shares of the footwear maker’s stock after selling 17,638 shares during the period. Assetmark Inc.’s holdings in NIKE were worth $7,603,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Longview Partners Guernsey LTD acquired a new stake in shares of NIKE in the first quarter valued at $533,533,000. Capital World Investors grew its position 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 acquiring an additional 4,457,376 shares in the last quarter. PineStone Asset Management Inc. increased its stake in NIKE by 138.3% during the second 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 position in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after purchasing an additional 1,550,611 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of NIKE in the first quarter valued at approximately $93,357,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NKE shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Guggenheim cut their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Finally, Evercore ISI cut their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.48.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred 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 sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $76.60 on Tuesday. The stock has a market capitalization of $114.85 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.84 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, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company’s fifty day moving average is $81.39 and its two-hundred day moving average is $83.73.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for 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 business’s revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 earnings per share. On average, sell-side analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current 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.