Strategic Blueprint LLC Trims Position in NIKE, Inc. (NYSE:NKE)

Strategic Blueprint LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 17.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,422 shares of the footwear maker’s stock after selling 966 shares during the period. Strategic Blueprint LLC’s holdings in NIKE were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Transcendent Capital Group LLC grew its stake in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC grew its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the period. Triad Wealth Partners LLC bought a new stake in shares of NIKE in the second quarter valued at about $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in NIKE in the second quarter worth about $46,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

Shares of NYSE:NKE opened at $77.13 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company’s 50 day moving average is $82.24 and its 200 day moving average is $84.61. The company has a market cap of $115.65 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.90 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the company posted $0.94 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that NIKE, Inc. will post 2.76 EPS for the current year.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Jefferies Financial Group boosted their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company increased their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, Guggenheim dropped their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

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.