JB Capital LLC Purchases New Shares in NIKE, Inc. (NYSE:NKE)

JB Capital LLC acquired a new position in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 34,487 shares of the footwear maker’s stock, valued at approximately $3,049,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Transcendent Capital Group LLC raised its position in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC raised its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of NIKE during the 2nd quarter worth $44,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of NIKE in the second quarter worth $46,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on NKE. Barclays reduced their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Robert W. Baird lifted their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Trading Up 1.0 %

Shares of NYSE:NKE traded up $0.75 during trading on Thursday, reaching $76.07. The stock had a trading volume of 2,049,591 shares, compared to its average volume of 11,510,846. 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 quick ratio of 1.58 and a current ratio of 2.36. The firm’s fifty day moving average is $81.68 and its 200 day moving average is $84.07. The stock has a market cap of $114.06 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 1.88 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its quarterly earnings results 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 business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.