Absher Wealth Management LLC Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Absher Wealth Management LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 23.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 386,853 shares of the footwear maker’s stock after buying an additional 74,721 shares during the period. NIKE accounts for about 4.4% of Absher Wealth Management LLC’s investment portfolio, making the stock its 6th largest holding. Absher Wealth Management LLC’s holdings in NIKE were worth $34,198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Kovack Advisors Inc. grew its position in shares of NIKE by 24.5% during the 1st quarter. Kovack Advisors Inc. now owns 2,469 shares of the footwear maker’s stock worth $232,000 after buying an additional 486 shares during the period. FORVIS Wealth Advisors LLC boosted its position in shares of NIKE by 8.7% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 7,951 shares of the footwear maker’s stock worth $747,000 after purchasing an additional 636 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of NIKE by 14.5% during the first quarter. J.W. Cole Advisors Inc. now owns 10,628 shares of the footwear maker’s stock worth $992,000 after purchasing an additional 1,342 shares during the period. Private Advisor Group LLC increased its holdings in NIKE by 3.6% in the first quarter. Private Advisor Group LLC now owns 62,372 shares of the footwear maker’s stock valued at $5,862,000 after purchasing an additional 2,196 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in NIKE by 18.8% in the first quarter. Avior Wealth Management LLC now owns 31,406 shares of the footwear maker’s stock valued at $2,952,000 after buying an additional 4,978 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’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 transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NKE. Sanford C. Bernstein cut their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Wells Fargo & Company lifted their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Telsey Advisory Group lowered their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Guggenheim cut their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Trading Up 0.7 %

NKE stock traded up $0.51 during trading on Friday, hitting $77.64. The company had a trading volume of 1,241,159 shares, compared to its average volume of 11,544,784. The stock has a market cap of $116.41 billion, a PE ratio of 22.10, a PEG ratio of 1.86 and a beta of 1.02. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. 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 has a 50-day moving average of $82.24 and a 200-day moving average of $84.61.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share 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 during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the business posted $0.94 EPS. The business’s revenue was down 10.4% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

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.