NIKE, Inc. (NYSE:NKE) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 36.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,844 shares of the footwear maker’s stock after selling 9,601 shares during the period. WCM Investment Management LLC’s holdings in NIKE were worth $1,507,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after purchasing an additional 501,792 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of NIKE by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock worth $454,151,000 after buying an additional 52,500 shares during the period. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE during the first quarter valued at $533,533,000. Finally, Capital World Investors increased its position in shares of 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 during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NIKE stock opened at $76.67 on Wednesday. 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 business has a 50 day simple moving average of $81.25 and a two-hundred day simple moving average of $83.61. The stock has a market capitalization of $114.96 billion, a P/E ratio of 21.97, a PEG ratio of 1.84 and a beta of 1.03. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last posted 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. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior 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, analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on NKE. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley upped their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Robert W. Baird upped their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their price objective for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $96.48.

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.