Catalyst Capital Advisors LLC Takes $54,000 Position in NIKE, Inc. (NYSE:NKE)

Catalyst Capital Advisors LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 610 shares of the footwear maker’s stock, valued at approximately $54,000.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Transcendent Capital Group LLC boosted its holdings in shares of NIKE by 97.6% in the 1st 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 boosted its stake in NIKE by 52.6% in the third 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 grew its holdings in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of NIKE during the second quarter worth $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of NIKE during the 2nd quarter valued at $46,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 3.4 %

Shares of NYSE NKE opened at $75.29 on Thursday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company’s 50-day simple moving average is $81.68 and its 200-day simple moving average is $84.07. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $112.89 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays reduced their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Stifel Nicolaus cut their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Bank of America cut their target price on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s 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 $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

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.