HS Management Partners LLC Has $57.42 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

by · The Cerbat Gem

HS Management Partners LLC decreased its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 10.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 649,540 shares of the footwear maker’s stock after selling 75,835 shares during the period. NIKE accounts for about 3.7% of HS Management Partners LLC’s holdings, making the stock its 17th biggest holding. HS Management Partners LLC’s holdings in NIKE were worth $57,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cordatus Wealth Management LLC increased its stake in shares of NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after buying an additional 6,778 shares during the period. Bristlecone Advisors LLC increased its stake in shares of NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after buying an additional 11,665 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of NIKE by 44.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after buying an additional 60,008 shares during the period. Lafayette Investments Inc. increased its stake in shares of NIKE by 90.7% in the third quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock valued at $4,075,000 after buying an additional 21,922 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler reiterated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Stifel Nicolaus lowered their target price on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. TD Cowen lifted their target price on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $96.56.

Get Our Latest Research Report on NIKE

NIKE Stock Up 1.2 %

NKE stock opened at $78.06 on Monday. The stock’s fifty day simple moving average is $82.12 and its two-hundred day simple moving average is $84.37. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $117.04 billion, a P/E ratio of 22.37, a P/E/G ratio of 1.87 and a beta of 1.03.

NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE 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.

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