NorthRock Partners LLC Sells 2,713 Shares of NIKE, Inc. (NYSE:NKE)

NorthRock Partners LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 32.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,556 shares of the footwear maker’s stock after selling 2,713 shares during the period. NorthRock Partners LLC’s holdings in NIKE were worth $491,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NKE. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of NIKE by 4.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,244 shares of the footwear maker’s stock valued at $1,809,000 after buying an additional 904 shares in the last quarter. Catalina Capital Group LLC acquired a new position in shares of NIKE in the 1st quarter valued at approximately $209,000. Geneos Wealth Management Inc. raised its position in shares of NIKE by 8.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 35,165 shares of the footwear maker’s stock valued at $3,305,000 after buying an additional 2,604 shares in the last quarter. Broderick Brian C raised its position in shares of NIKE by 16.4% in the 1st quarter. Broderick Brian C now owns 41,005 shares of the footwear maker’s stock valued at $3,854,000 after buying an additional 5,765 shares in the last quarter. Finally, Grandfield & Dodd LLC raised its position in shares of NIKE by 598.5% in the 1st quarter. Grandfield & Dodd LLC now owns 29,178 shares of the footwear maker’s stock valued at $2,742,000 after buying an additional 25,001 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NKE. Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Wells Fargo & Company boosted their target price on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Bank of America dropped their target price 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. Royal Bank of Canada lowered their price objective on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 2nd. Finally, Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.56.

Insider Activity

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

NIKE Trading Up 1.0 %

NYSE:NKE opened at $77.99 on Wednesday. The firm’s fifty day moving average is $81.83 and its 200-day moving average is $84.13. 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 52 week low of $70.75 and a 52 week high of $123.39. The firm has a market cap of $116.94 billion, a P/E ratio of 22.35, a P/E/G ratio of 1.90 and a beta of 1.03.

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

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.