KBC Group NV Increases Stake in NIKE, Inc. (NYSE:NKE)

KBC Group NV raised its position in shares of NIKE, Inc. (NYSE:NKE) by 145.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,111,708 shares of the footwear maker’s stock after acquiring an additional 1,250,380 shares during the quarter. NIKE makes up approximately 0.6% of KBC Group NV’s holdings, making the stock its 28th largest position. KBC Group NV owned 0.14% of NIKE worth $186,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Cordatus Wealth Management LLC grew its holdings in NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after purchasing an additional 6,778 shares during the period. Bristlecone Advisors LLC increased its position in NIKE by 14.3% during the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after buying an additional 11,665 shares in the last quarter. WoodTrust Financial Corp raised its stake in NIKE by 19.9% during the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after buying an additional 16,303 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in NIKE by 44.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after acquiring an additional 60,008 shares in the last quarter. Finally, Heritage Investors Management Corp grew its stake in shares of NIKE by 2.6% in the third quarter. Heritage Investors Management Corp now owns 352,199 shares of the footwear maker’s stock worth $31,134,000 after acquiring an additional 9,068 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NKE. Morgan Stanley upped their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. UBS Group boosted their price objective on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Truist Financial raised NIKE from a “hold” rating to a “buy” rating and upped their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.48.

NIKE Stock Down 0.2 %

NYSE NKE opened at $76.51 on Thursday. The stock has a 50 day moving average price of $81.16 and a 200-day moving average price of $83.49. NIKE, Inc. has a one year low of $70.75 and a one year 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 company has a market capitalization of $114.72 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. As a group, equities analysts predict that NIKE, Inc. will post 2.74 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.