Arjuna Capital Sells 7,630 Shares of NIKE, Inc. (NYSE:NKE)

Arjuna Capital decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 72.4% in the third quarter, Holdings Channel.com reports. The fund owned 2,908 shares of the footwear maker’s stock after selling 7,630 shares during the period. Arjuna Capital’s holdings in NIKE were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Condor Capital Management boosted its position in shares of NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares during the last quarter. Garrison Point Advisors LLC boosted its position in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares during the last quarter. Stephens Consulting LLC lifted its position in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC lifted its position in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares during the last quarter. Finally, Pitcairn Co. lifted its position in NIKE by 0.5% during the first quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock valued at $2,732,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on NKE shares. Bank of America lowered their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Telsey Advisory Group lowered their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. TD Cowen raised their target price on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, 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. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Stock Performance

NYSE:NKE traded up $0.12 during trading hours on Wednesday, hitting $76.78. 969,091 shares of the company were exchanged, compared to its average volume of 11,473,295. The stock has a market capitalization of $115.12 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company’s 50 day moving average price is $81.16 and its 200-day moving average price is $83.49.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The business 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%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. As a group, research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current year.

About NIKE

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.