North Growth Management Ltd. Purchases New Stake in NIKE, Inc. (NYSE:NKE)

North Growth Management Ltd. acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,000 shares of the footwear maker’s stock, valued at approximately $1,420,000.

Other large investors also recently made changes to their positions in the company. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE during the first quarter valued at approximately $533,533,000. Capital World Investors increased its stake in NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares during the period. PineStone Asset Management Inc. lifted its holdings in NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after buying an additional 1,576,049 shares in the last quarter. Renaissance Technologies LLC boosted its position in NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of NIKE during the first quarter worth about $93,357,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

NIKE Trading Up 0.9 %

NYSE:NKE opened at $76.60 on Tuesday. The stock has a market cap of $114.85 billion, a price-to-earnings ratio of 21.95, a PEG 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 business has a fifty day moving average of $81.25 and a 200-day moving average of $83.61.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on NKE. Morgan Stanley increased their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Telsey Advisory Group cut their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada reduced their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. UBS Group upped their target price on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Bank of America decreased their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $96.48.

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.