NIKE, Inc. (NYSE:NKE) Shares Purchased by Diversify Wealth Management LLC

Diversify Wealth Management LLC lifted its position in NIKE, Inc. (NYSE:NKE) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,046 shares of the footwear maker’s stock after purchasing an additional 829 shares during the quarter. Diversify Wealth Management LLC’s holdings in NIKE were worth $1,418,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after purchasing an additional 501,792 shares during the period. Legal & General Group Plc boosted its position in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the period. Jennison Associates LLC boosted its position in shares of NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of NIKE by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after purchasing an additional 52,500 shares during the period. Finally, Longview Partners Guernsey LTD purchased a new stake in NIKE during the 1st quarter valued at approximately $533,533,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NIKE stock opened at $76.43 on Thursday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market capitalization of $114.60 billion, a P/E ratio of 21.90, a PEG ratio of 1.90 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average price is $82.37 and its 200 day moving average price is $84.67.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating 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 analysts’ expectations of $11.64 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 2.76 earnings per share for the current year.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction 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 transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

NKE has been the subject of several analyst reports. Sanford C. Bernstein reduced their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Stifel Nicolaus reduced their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, TD Cowen upped their price objective on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.