Three Bridge Wealth Advisors LLC Sells 597 Shares of NIKE, Inc. (NYSE:NKE)

Three Bridge Wealth Advisors LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,806 shares of the footwear maker’s stock after selling 597 shares during the quarter. Three Bridge Wealth Advisors LLC’s holdings in NIKE were worth $821,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Range Financial Group LLC bought a new stake in shares of NIKE in the 4th quarter worth $642,000. Cacti Asset Management LLC bought a new position in shares of NIKE during the fourth quarter valued at about $9,987,000. Capricorn Fund Managers Ltd purchased a new position in NIKE during the fourth quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its position in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its stake in NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE:NKE opened at $72.31 on Thursday. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $107.34. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $106.96 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.34 and a beta of 1.01. The company has a 50 day moving average of $74.80 and a 200 day moving average of $78.08.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The business’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Guggenheim reissued a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NIKE in a research report on Friday, February 7th. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Finally, BMO Capital Markets increased their price target on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Company 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.