Assetmark Inc. Sells 83,931 Shares of NIKE, Inc. $NKE

Assetmark Inc. lessened its position in NIKE, Inc. (NYSE:NKE) by 86.0% during the second quarter, Holdings Channel.com reports. The fund owned 13,700 shares of the footwear maker’s stock after selling 83,931 shares during the period. Assetmark Inc.’s holdings in NIKE were worth $973,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Flossbach Von Storch SE boosted its stake in shares of NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock valued at $652,995,000 after purchasing an additional 1,988,547 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in NIKE by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,507,250 shares of the footwear maker’s stock valued at $603,445,000 after acquiring an additional 301,497 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NKE. Truist Financial restated a “buy” rating and set a $85.00 target price on shares of NIKE in a report on Wednesday, October 1st. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. JPMorgan Chase & Co. boosted their target price on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. KeyCorp set a $90.00 price target on shares of NIKE and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Barclays set a $70.00 price target on shares of NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Buying and Selling

In other news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NYSE:NKE opened at $62.14 on Thursday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The stock has a market capitalization of $91.86 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The firm’s 50 day moving average price is $70.29 and its 200-day moving average price is $68.46.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the firm earned $0.70 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS 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.