Chapin Davis Inc. and Meridian Financial Partners LLC have recently increased their investments in NIKE. Hedge funds and other institutional investors collectively own 64.25% of NIKE's stock, indicating strong institutional confidence in the company.
Chapin Davis Inc. raised its stake by 1.2% during the third quarter, now holding 11,430 shares valued at approximately $1,010,000. Similarly, Meridian Financial Partners LLC lifted its stake by 1.6% during the same period, now owning 8,396 shares worth around $742,000.
UBS Group has lowered its price target from $82.00 to $80.00, maintaining a "neutral" rating. Royal Bank of Canada also reduced its target from $82.00 to $80.00 while assigning a "sector perform" rating. Bank of America adjusted its price objective from $100.00 to $95.00, maintaining a "buy" rating, while Stifel Nicolaus set a target of $79.00 with a "hold" rating. The consensus among analysts reflects a mixed outlook for NIKE, with fourteen research analysts rating the stock as a hold and seventeen giving it a buy rating. The overall consensus rating stands at "Moderate Buy," with a consensus price target of $95.46.
NIKE's latest earnings report showed a quarterly EPS of $0.70, surpassing analysts' expectations. However, the company reported a year-over-year revenue decline of 10.4%. Despite this, NIKE demonstrated profitability with a net margin of 10.60% and a return on equity of 39.84%. The stock has experienced fluctuations, with a 12-month low of $70.75 and a high of $123.39. NIKE's financial metrics indicate a stable financial position, although the market's reaction to its earnings and price target adjustments suggests a cautious sentiment among investors.
Recent trading activity among institutional investors reveals a dynamic landscape for NIKE's stock. Garrison Point Advisors LLC increased its stake by 1.9%, now owning 6,704 shares valued at $593,000. Stephens Consulting LLC significantly boosted its holdings by 20.0%, now owning 768 shares worth $68,000. PSI Advisors LLC also increased its position by 26.3%, owning 624 shares valued at $55,000. These movements among institutional investors reflect a broader trend of confidence in NIKE's long-term prospects. The substantial ownership by hedge funds and institutional investors underscores their importance in shaping the stock's performance and market perception.