Jupiter Wealth Management LLC Sells 275 Shares of NIKE, Inc. (NYSE:NKE)

by · The Markets Daily

Jupiter Wealth Management LLC lowered its position in NIKE, Inc. (NYSE:NKE – Free Report) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,030 shares of the footwear maker’s stock after selling 275 shares during the period. NIKE comprises 1.9% of Jupiter Wealth Management LLC’s holdings, making the stock its 19th largest position. Jupiter Wealth Management LLC’s holdings in NIKE were worth $3,627,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Transcendent Capital Group LLC increased its position in shares of 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 acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC grew its holdings in shares of 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 boosted its position in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in NIKE in the 2nd quarter valued at $44,000. Finally, Riverview Trust Co bought a new stake in NIKE during the third quarter worth about $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s 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 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 filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent analyst reports. Telsey Advisory Group cut their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Wells Fargo & Company upped their price target on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. TD Cowen upped their target price on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

View Our Latest Stock Analysis on NKE

NIKE Trading Up 1.9 %

NYSE NKE opened at $77.33 on Monday. 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 company has a market cap of $115.95 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.84 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 business’s fifty day moving average is $81.39 and its 200 day moving average is $83.73.

NIKE (NYSE:NKE – Get Free Report) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS 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 business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the company earned $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Company Profile

(Free Report)

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.

See Also

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