Manchester Capital Management LLC has notably increased its NIKE Stock position, signaling a significant move among Institutional Investors in the current market. This development, detailed in its recent SEC disclosure, highlights a broader trend of escalating interest in the footwear giant’s Share Holdings.
During the first quarter, Manchester Capital Management LLC strategically amplified its NKE Investment by 1.6%, acquiring an additional 289 shares. This expansion brought their total ownership to 18,169 shares, translating to a substantial $1,153,000 valuation at the close of the reporting period, underscoring their growing confidence in the company.
Beyond Manchester Capital, a diverse array of prominent Institutional Investors has been actively reshaping their NIKE Stock portfolios. Spire Wealth Management, for instance, boosted its holdings by 4.4% in the first quarter, accumulating 9,872 shares valued at $627,000. Meanwhile, Renaissance Technologies LLC executed a dramatic 1,302.7% increase in the fourth quarter, now commanding 2,602,101 shares worth an astounding $196,901,000.
Further showcasing the dynamic nature of Share Holdings in the market, Capitolis Liquid Global Markets LLC grew its NKE Investment by 40.9% in the fourth quarter, reaching 310,000 shares valued at $23,458,000. Similarly, Janus Henderson Group PLC notably lifted its position in NIKE shares by 8.3% during the same period, bringing their total to 6,081,021 shares, a colossal $460,160,000 investment.
Completing the picture of significant institutional activity, Bank Julius Baer & Co. Ltd Zurich saw a modest yet impactful 0.6% increase in their NIKE Stock during the first quarter, now holding 1,008,340 shares valued at $69,932,000. Collectively, Institutional Investors and hedge funds now control a substantial 64.25% of the company’s outstanding stock, a critical metric for Stock Market Analysis.
Analysts have offered varied perspectives on NIKE’s future, contributing to ongoing Financial News. Bank of America recently upped their price objective to $84.00 with a “buy” rating, while Royal Bank of Canada adjusted theirs to $65.00 with a “sector perform” rating. DZ Bank downgraded NIKE to a “hold,” setting a $76.00 objective, and Truist Financial reduced their target to $73.00, maintaining a “buy” rating. Morgan Stanley also revised their objective to $64.00, assigning an “equal weight” rating. The consensus among analysts currently stands at a “Moderate Buy” with a target price of $78.22.
In a notable insider transaction, the Chairman of NIKE executed a sale of 110,000 shares on July 16th. This transaction, valued at $7,951,900.00 at an average price of $72.29 per share, represents an 11.55% decrease in their overall position, leaving them with 842,361 shares. Such insider movements are often closely watched indicators in Stock Market Analysis.
As of recent trading, NIKE’s shares opened at $74.61, reflecting a robust market presence with a capitalization of $110.19 billion. The company exhibits a price-to-earnings ratio of 34.54, a PEG ratio of 2.71, and a beta of 1.27. Technical indicators show a 50-day moving average of $68.36 and a 200-day moving average of $67.51. Furthermore, the firm maintains healthy liquidity with a current ratio of 2.21 and a quick ratio of 1.50, alongside a debt-to-equity ratio of 0.60, providing key metrics for Financial News.
NIKE’s recent earnings report on June 26th revealed an EPS of $0.14, surpassing the consensus estimate of $0.12, with revenue reaching $11.10 billion against an estimated $10.69 billion. Despite an 11.9% year-over-year revenue decrease, the company demonstrated a strong return on equity of 23.33% and a net margin of 6.95%. Analysts anticipate NIKE, Inc. will post an EPS of 2.05 for the current year, further fueling interest in NKE Investment and overall NIKE Stock performance.
