NIKE, Inc. $NKE Shares Bought by Cacti Asset Management LLC

Cacti Asset Management LLC grew its position in shares of NIKE, Inc. (NYSE:NKE) by 7.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 348,782 shares of the footwear maker’s stock after purchasing an additional 24,816 shares during the quarter. NIKE accounts for 0.7% of Cacti Asset Management LLC’s holdings, making the stock its 24th largest holding. Cacti Asset Management LLC’s holdings in NIKE were worth $14,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Main Street Financial Solutions LLC lifted its stake in shares of NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after buying an additional 139 shares during the period. Diligent Investors LLC grew its stake in NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after acquiring an additional 153 shares during the period. Massachusetts Financial Services Co. MA grew its stake in NIKE by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after acquiring an additional 163 shares during the period. Lakeshore Capital Group Inc. grew its stake in NIKE by 2.9% in the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock worth $374,000 after acquiring an additional 165 shares during the period. Finally, ANB Bank raised its holdings in NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock valued at $1,621,000 after acquiring an additional 165 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 2.2%

Shares of NKE opened at $42.63 on Tuesday. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17. The company’s fifty day moving average is $43.52 and its two-hundred day moving average is $50.09. The firm has a market cap of $63.25 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.85 and a beta of 1.12. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. During the same period last year, the business earned $0.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 1.74 earnings per share for the current year.

Insiders Place Their Bets

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This represents a 24.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Argus upgraded NIKE to a “strong-buy” rating in a report on Wednesday, July 15th. Wells Fargo & Company dropped their target price on NIKE from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 1st. UBS Group set a $48.00 target price on NIKE and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Robert W. Baird reiterated an “outperform” rating and set a $70.00 target price on shares of NIKE in a research report on Wednesday, July 1st. Finally, Bank of America decreased their price target on NIKE from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.74.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).