Bank Hapoalim BM Acquires New Stake in NIKE, Inc. (NYSE:NKE)

Bank Hapoalim BM purchased a new stake in NIKE, Inc. (NYSE:NKE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,137 shares of the footwear maker’s stock, valued at approximately $1,073,000.

A number of other large investors have also recently modified their holdings of the business. Longview Partners Guernsey LTD purchased a new position in NIKE in the 1st quarter worth approximately $533,533,000. Capital World Investors grew its stake in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. Jennison Associates LLC increased its position in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares in the last quarter. PineStone Asset Management Inc. increased 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. Finally, Renaissance Technologies LLC raised its holdings in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated 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 transaction, the chairman now 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 document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

NKE has been the topic of a number of research reports. Telsey Advisory Group dropped their price objective 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. Robert W. Baird increased 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. Stifel Nicolaus decreased their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Sanford C. Bernstein dropped their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Finally, Truist Financial raised NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Stock Performance

Shares of NYSE NKE traded down $0.74 during midday trading on Thursday, hitting $75.71. The company’s stock had a trading volume of 868,206 shares, compared to its average volume of 11,531,428. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm’s fifty day moving average price is $82.37 and its 200-day moving average price is $84.67. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm has a market cap of $113.52 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.90 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the firm earned $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that NIKE, Inc. will post 2.76 EPS for the current fiscal 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.